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3-4 Wharton Street Cardiff

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3-4 Wharton Street Cardiff 3-4 WHARTON STREET CARDIFF PRIME MIXED USE INVESTMENT 15+ YEARS UNEXPIRED TO GREENE KING CARDIFF CITY CENTRE CF10 1AG 2 INVESTMENT SUMMARY • Majority let to Greene King PLC on a newly regeared lease until January 2037 – 74% of the income. View from Bakers Row • Greene King is the largest pub retailer and brewer in the UK – with a Dun & Bradstreet score of 5A1. • Total income of £95,000 PA. • The property comprises: • The Glassworks Pub - £70,000 p.a • Retail Unit - £25,000 p.a • Servicemen’s Club - Peppercorn p.a • The property totals 12,018 sq ft, incorporating 3 staff apartments. The Glassworks Pub • 3 minutes’ walk from the Principality Stadium which generates almost 1 million entrants a year. Services Mess • Cardiff is the capital city of Wales with a population of 1.5 million people. • 70,000 students across three growing universities. • 250 year long leasehold at a peppercorn rent. THE OPPORTUNITY Offers sought in excess of£1,450,000 (One Million Four Hundred and Fifty Thousand Pounds) reflecting a Net Initial Yield of 6.16%, assuming purchaser’s costs of 6.32%. Retail Unit CARDIFF CF10 1AG P 12 P A CORE LOCATION 4 5 11 THE AREA 15 3 1. House of Fraser - Prime 2 3-4 Mixed Use Scheme WHARTON STREET 2. Waterstones 7 3. TK Maxx 1 4. Miller and Carter 6 9 5. St David’s SD2 Centre 8 6. Cardiff Market 10 7. Morgan Arcade 8. Honest Burger 14 13 9. The Botanist 10. Castle Quarter Arcades 11. The Hayes 16 12. John Lewis P 13. The Alchemist 14. Brewdog 15. Queen Street 16. Cardiff Castle 17. Principality Stadium 17 P.P Car parks P Central Station 5 mins walk Queen Street Station 10 mins walk St David’s St David’s Shopping Centre Cardiff Cardiff Central Vue Cinema + Motorpoint Primary footfall routes Hall + Principality Stadium Castle Railway Station Cineworld Arena 3-4 IN WALKING WHARTON DISTANCE STREET 1 min 3 min 4 mins 5 min 7 min 9 min Cardiff BO THE TA NIST 4 A CONNECTED CITY THE PROPERTY CARDIFF DESCRIPTION L • Capital City of Wales / HOTE The property comprises an attractive,HOUSE OF FRASER ornate PROPOSED LEISURE/RETAIL/HOTEL • Comprising 51% of the Welsh Economy period building constructed circa 1900 as a HOUSE OF FRASER glassworks - laid out over four storeys. PROPOSED LEISURE / RETAIL • With a Primary Catchment of 1.5 Million PLACE BETHANY • 18 million tourist visits annually The front left unit is a Greene King Pub with two Manager’s apartments on the 1st and 2nd floors. • 3 universities and a student The righthand side retail unit is arranged on population of 70,000 ground, basement and part first floor. • Home to the internationally recognised A Private Members Club is situated above these Principality Stadium units on the first and second floors, with a • Over 3,000 car parking spaces within a Managers Flat on the third. 10 minute walk LISTING BY RAIL The property is Grade II Listed. CITY TIME SITUATION Bristol 34 mins 3-4 Wharton Street is prominently situated on a Reading 85 mins corner site at the junction with Bakers Row - in London 97 mins the heart of Cardiff City Centre. House of Fraser Proposals 3 minutes walk from The Principality Stadium – Birmingham 120 mins Experian Goad Plan Created: 23/03/2021 where a combination of sporting and music events 50 metres Created By: E J Hales For more information on our products and services: Manchester 190 mins Copyright and confidentiality Experian, 2020. © Crown copyright and database generates over £140M - 1 million entrants - a year. www.experian.co.uk/goad | [email protected] | 0845 601 6011 rights 2020. OS 100019885 A465 A465 ABERGAVENNY MONMOUTH Bakers Row provides access to Morgan Arcade, A470 Cardiff Airport – 30 mins by road A4059 A40 12 known as Cardiff’s prime upmarket arcade RAGLAN CF10 1AG 13 generating 4.2M annual footfall. A466 ABERDARE A4042 A449 A48 A465 A4061 PONTYPOOL M5 A470 Plans have been drawn up to repurpose the House A4059 RN A469 E A46 V USK E NEATH S of Fraser into a market leading retail and leisure 7 CWMBRAN R E V CHEPSTOW I 14 42 TONYPANDY A4058 CWMCARN R destination with the main entrance immediately A46 A48 22 M4 7 M4 M48 41 26 24 21 41 PONTYPRIDD opposite – reopening up Bethany Place. A468 A48 23 M5 40 TONYREFAIL 27 A470 A4119 M4 39 CAERPHILLY 28 20 38 29 15 30 9 16 LLANTRISANT 36 32 M4 17 19 37 35 34 33 A4232 A48 M4 18 AVONMOUTH 19 M32 A48 M5 20 A4 A4050 A37 BARRY A370 A38 CARDIFF CF10 1AG BRISTOL CHANNEL WESTON-SUPER-MARE 21 M5 5 ACCOMMODATION LEASE LEASE RENT RENT UNIT TENANT AREA (SQFT) RENT COMMENTS START END REVIEW (PSF) 4 Wharton Street Ground, Greene King G/Floor Sales 1,858 20/01/1987 19/01/2037 20/01/2027 £70,000 £12.73 The lease was extended in 2021. Basement, Part First & Part Brewing & Second Retailing Ltd Basement 1,753 The current rent is £64,500 with a fixed increase to £70,000 on 19/01/2022 – the vendor will top up the First Floor 937 rent to the £70,000. Second Floor Flats 951 5 yearly upwards only rent reviews to the open market rent. 5,499 3 Wharton Street Ground, Supersonic Retail G/Floor Sales 1,123 25/01/2016 24/01/2026 25/01/2021 £25,000 £9.92 The 2021 upward only rent review remains Basement & First Ltd T/A Coco outstanding. Blush Fashion Basement 1,201 First Floor 195 2,519 Westminster Chambers Part Trustees of the First Floor 1,201 25/12/1995 24/12/2045 Peppercorn United Services Mess is a Private Members Club First, Part Second & Part Third United Services for personnel who are / have been members of the Mess Cardiff Second Floor 2,160 armed forces. Third Floor Flat 639 4,000 TOTAL 12,018 £95,000 The Glassworks The Glassworks Retail Unit Services Mess CARDIFF CF10 1AG 6 FURTHER INFORMATION TENANT FINANCIALS Established in 1799, Greene King is the largest pub retailer and brewer in the UK – with over 2,900 sites. Greene King was recently sold to CK Asset Holdings for £4.6Bn. CK Asset Holdings is owned by Li Ka-shing – one of the richest men in Asia. Greene King have a Dun & Bradstreet score of 5A1. Their financial results for the last 2 years are as follows: FINANCIAL YEAR PROFIT/(LOSS) TURNOVER NET WORTH ENDING BEFORE TAXES 28/04/2019 £1,819,000,000 £116,000,000 £1,952,000,000 29/04/2018 £1,795,000,000 £36,000,000 £1,835,000,000 Coco Blush is a regional clothes retailer with over 18 outlets in Wales and the South West - they are currently expanding with the PROPOSAL target of 25 units. Offers sought in excess of of£1,450,000 (One Million Four subject to contract, TENURE CONTACT Hundred and Fifty Thousand Pounds) reflecting aNet Initial Yield of 6.16%, assuming purchaser’s 250 year long leasehold interest For further information or to arrange costs of . from January 2020 from Cardiff an inspection please contact:- 6.32% Council at a peppercorn rent. A UK SPV is available subject to agreement. The airspace above the building is DAN GRIFFITHS included within the longleasehold Offers in Bitcoin will be considered. DL 029 2034 7133 title. The permitted uses are retail, M 07818 553350 café, public house and ancillary offices and staff accommodation. [email protected] MISREPRESENTATION VAT WILL ELPHINSTONE These particulars of sale do not form part of any offer or contract. Whilst the particulars area given in good faith, DL 020 3904 3573 they are made without responsibility on the part of EJ Hales and the intended Purchaser/Lessee should satisfy The property is not elected for VAT. himself as to their accuracy by his own inspection and enquiries. Neither EJ Hales nor anyone in their employ, M 07876 131 346 make or give any representation or warranty whatsoever in relation to this property. May 2021. [email protected] Designed and produced by 029 2046 1233 | [email protected] | martinhopkins.co.uk CARDIFF CF10 1AG.
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