10 Windsor Road is situated within Penarth’s prime retail pitch, where occupiers include Loungers, Boots, Co-op, Sainsburys, Grape Tree, Coffee #1, Tui, Costa, Greggs, Peacocks and Card Factory, as well as a wide range of independent retailers and leisure outlets.

The property comprises an attractive three storey period building within a terrace, occupied by Specsavers.  Specavers have recently completely refurbished the unit to provide sales / testing space on ground with ancillary/staff space at first and basement.  The second floor has been capped off.

The entire property is let to Specsavers Optical Superstores Limited on a 10 year FRI lease from 24^th June 2021 – expiring 23^rd June 2031 at a rent of £35,500 pa, which is paid monthly.  There is a rent review due in June 2026.  The lease contained a tenant break in June this year – which was not exercised, illustrating that the unit is a strong trader for Specsavers.

Longleasehold – 99 year lease from 1^st May 1960, expiring 30 April 2059 at a fixed rent of £86 pa, paid half yearly.

The long lease prohibits the use of the property as a clubhouse, club or society, or for storing alcohol.

We have been instructed to seek Offers in the Region of £340,000 (Three Hundred and Forty Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level reflects a Net Initial Yield of 10%, based on the Net Rent of £35,414 pa and purchaser’s costs of 3.42 %.