Aberystwyth is an historic University town – the largest town in Mid Wales, located approximately 73 miles north of Swansea, 76 miles south-west of Shrewsbury and 100 miles north-west of Cardiff.  As well as being the administrative centre for the County of Ceredigion, Aberystwyth is also the principal retail and commercial destination for the county.  The town has a primary catchment population of c57,000 – boosted by a university with over 10,500 students present most of the year – as well as a strong tourism base.

The property is located in the heart of Aberystwyth town centre – occupying a very prominent position on the corner of North Parade and Terrace Road – facing onto Owain Glyndwr Square.  Aberystwyth Train Station is just 110 meters to the south.  North Parade / Owain Glyndwr Square is a busy position where national occupiers include Tui, Three, Nat West and Oxfam as well as a range of independent retailers and food / leisure outlets.  This creates a vibrant mix that is popular with both residents, students and tourists.

The property comprises an attractive double fronted convenience store on ground with ancillary accommodation at the rear of the ground plus on most of the first floor.  The remainder of the first floor plus second and third floors provide excellent potential for being refurbished into residential use, AirBnB or an Apart- hotel in the future – subject to planning.  Please note that at present the vacant upper floors have no connected utilities or services and would require renovation works to be put into use.

The majority of the ground floor and part of the first floor is let to Tesco Stores Limited on a 20 year lease from 4^th August 2014, therefore expiring 3^rd August 2034.  At a rent of  £63,361 per annum with 5 yearly rent reviews to RPI capped at 4% pa.

The property is held Long Leasehold from Ceredigion Council on a 125 year lease from 3^rd August 2004, therefore expiring 2129 – in approximately 104 years.

We have been instructed to seek Offers in the Region of £740,000 (Seven Hundred and Forty Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level reflects a Net Initial Yield of 6.95%, based on purchaser’s costs of 5.25%.