|WAULT to expiry||5 years 5 months
|Capital value (PSF)||£107.60
|Size (NIA)||46,282 sq ft
Established business area approximately four miles north of Swansea City Centre and adjacent to Junctions 44 and 45 of the M4 motorway
Excellent car parking ratio of 1:198 sq ft
Modern, detached office building totalling approx. 46,477 sq ft
Let to the undoubted covenant of HSBC Bank Plc until March 2021
Unexpired term of 5.42 years
The tenant had a break option in March 2016 which they did not exercise, demonstrating their strong commitment to the building
The property is held on a long leasehold interest expiring on 10th December 2115 (100 years unexpired), at a peppercorn rent
Rent of £436,250 per annum (low base rent of £9.42 psf)
Offers in the region of £5,000,000 (FIVE MILLION POUNDS), reflecting a capital value of £107.60 psf
Attractive Net Initial Yield of 8.25% allowing for acquisition costs of 5.8%
The city of Swansea, which has a population of about 230,000, is the second largest city in Wales and is located on the northern shores of the Bristol Channel, about 85 miles west of Bristol and 42 miles west of Cardiff.
Swansea Enterprise Park was designated an Enterprise Zone in 1981 and in total covered 314 hectares (775 acres). Following considerable public and private sector investment in infrastructure, the area has attracted significant mixed use development, with office occupiers in particular including the Land Registry, Royal Mail, Welsh Assembly Government, EDS, John Collins Solicitors, Western Power & Distribution and the NHS Trust.
* All sizes NIA
Find out more information about this building's development and technical spec.
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Swansea Enterprise Park is an established and well recognised retail and commercial location, situated approximately 4 miles north east of Swansea City Centre
Swansea has a mainline railway station that provides a regular fast link to Cardiff and London Paddington
Close proximity to Junctions 44 and 45 of the M4 motorway
Swansea is the main city serving South West Wales and is host to two Universities, as well as being an established base for major public and private sector employers such as the DVLA and Admiral Insurance.
Offers are invited in the region of £5,000,000 (FIVE MILLION POUNDS) for the long leasehold interest. This reflects a net initial yield of 8.25% (assuming purchasers costs of 5.8%) and a low capital value of £107 psf
The property is let to HSBC Bank Plc on a 15 year lease from 22nd March 1996. This was extended via a new reversionary lease for 10 years from 22 March 2011, thus expiring on 21st March 2021.
There was a tenant option to break on 22 March 2016 subject to 6 months prior notice, which was not exercised, demonstrating the tenant’s strong commitment to the building.
|Floor / Demise
||NIA (sq ft)
|Ground and 1st Fl...More||HSBC Bank Plc||46,282||£436,250||22/03/2011||21/03/2021||22/03/2016||TOB not exercised|
HSBC Bank Plc is a leading global banking institution and is the world’s largest banking and financial services group as well as the world’s 8th largest company.
HSBC has an enormous operational base in Asia and significant lending, investment and insurance activities around the world. The company has a global reach and financial fundamentals matched by few other banking multinationals.
HSBC is listed on the London, New York, Hong Kong, Paris and Bermuda Stock Exchanges and is a constituent of the FTSE 100 Index and the Hang Seng Index.
||Net current assets
|HSBC Bank Plc||£18,313,000,000||£1,953,000,000||£28,784,000,000||As on 31/12/2014|
2 x 8 person passenger lifts
On-site staff / canteen facilities
Male and female WC’s
Gas central heating
There are approximately 235 car parking spaces within the secure car park, at an excellent ratio of 1:198 sq ft
The property has a rating of D 96. A copy of the certificate is available upon request
We understand the property is elected for VAT and will be treated as a Transfer of a Going Concern (TOGC).
Brochure for Swansea Enterprise Park
Well secured office investment let to HSBC Bank
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a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
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