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Lot 8 Click here for addendum

Over 4½ years unexpired to Ladbrokes Betting & Gaming Ltd
Gross Yield 14.2%

Situation

Located on this prominent corner position at the junction with Station Street amongst a host of independent local traders.
Porth is situated in the South Wales Valleys some 3 miles north-west of Prontypridd and 15 miles north-west of Cardiff with good road links via the A4058 and 11 miles north-west of the M4 (Junction 32).

Property

A substantial corner building comprising a Ground Floor Betting Shop with frontages on both Hannah Street and Station Street. In addition, the property includes a Basement and 3 Upper Floors.

Accommodation¹

Ground Floor Betting Shop
Area Approx. 1,250 sq ft
Basement
Area Approx. 932 sq ft
First Floor
Area Approx. 905 sq ft
Second Floor
Area Approx. 373 sq ft
Third Floor
Area Approx. 300 sq ft

Total Area Approx. 3,760 sq ft

¹Not inspected by Barnett Ross. Areas from VOA.

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Ladbrokes Betting & Gaming Limited (T/O for Y/E 31/12/19 £983.4m, Pre-Tax Profit £462.2m and Shareholders' Funds £1.19bn) for a term of 5 years from 25th December 2020 (with no breaks) (renewal of a previous lease - in occupation for over 19 years) at a current rent of £12,750 per annum exclusive.

Note 1: There is potential to convert the upper floors into Residential Use, subject to obtaining possession and the necessary consents.

Note 2: There is a 6 Week Completion.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

79–80 Hannah Street, Porth, Mid Glamorgan CF39 9PY