Offers over
£575,000
(£56.63/sq. ft)
Property for saleOakleigh House School & Nursery, 38 Penlan Crescent, Uplands, Swansea SA2
10,154 sq. ft
EPC Rating: D
Freehold
About this property
Entirely let to Cognita Schools Ltd- one of the worlds largest private school educators
Highly sought after covenant - Creditsafe rating 100 A
7.5 years unexpired term
Rpi linked rent review in 2027
Future redevelopment potential situated in an affluent residential suburb
Estimated Rates Payable: £17843.5
Description
The property comprises a 2 storey traditional period building, extended over time to provide a series of classrooms, offices, canteen and leisure facilities.
The site extends to 0.69 acres overlooking Swansea Bay. Externally the property provides a standalone demountable teaching facility along with play areas and astro turf sports ground.
Direct vehicular access is provided from Penlan Crescent with a small parking area, together with pedestrian access to Glanmor Road.
Location
The property is situated in the affluent residential suburb of Sketty, offering convenient access to Swansea City Centre, Swansea University, Singleton Hospital and Swansea Bay all within a 2 mile radius.
Covenant
The property is entirely let to Cognita Schools Ltd, who operate over 100 schools across 17 countries worldwide
Cognita are majority owned by Jacobs Holding ag, a global investment firm based in Switzerland
For the FY23 the business posted a turnover in excess of £179m with pre-tax profits of £3.897m
Creditsafe risk score 100 A
Tenure
Freehold sale subject to an occupational tenancy for a term of 25 years from June 2007 to Cognita Schools Ltd at a passing rent of £42,457 per annum, based on Fri terms
Lease is subject to an rpi linked rent review in June 2027 (5 yearly compounded at 2% collar and 5% cap)
Proposal
Freehold interest for sale - offer in excess of £575,000
A purchase at this level would provide a Net Initial Yield (niy) of 7.04% accounting for the usual purchasers costs
The property comprises a 2 storey traditional period building, extended over time to provide a series of classrooms, offices, canteen and leisure facilities.
The site extends to 0.69 acres overlooking Swansea Bay. Externally the property provides a standalone demountable teaching facility along with play areas and astro turf sports ground.
Direct vehicular access is provided from Penlan Crescent with a small parking area, together with pedestrian access to Glanmor Road.
Location
The property is situated in the affluent residential suburb of Sketty, offering convenient access to Swansea City Centre, Swansea University, Singleton Hospital and Swansea Bay all within a 2 mile radius.
Covenant
The property is entirely let to Cognita Schools Ltd, who operate over 100 schools across 17 countries worldwide
Cognita are majority owned by Jacobs Holding ag, a global investment firm based in Switzerland
For the FY23 the business posted a turnover in excess of £179m with pre-tax profits of £3.897m
Creditsafe risk score 100 A
Tenure
Freehold sale subject to an occupational tenancy for a term of 25 years from June 2007 to Cognita Schools Ltd at a passing rent of £42,457 per annum, based on Fri terms
Lease is subject to an rpi linked rent review in June 2027 (5 yearly compounded at 2% collar and 5% cap)
Proposal
Freehold interest for sale - offer in excess of £575,000
A purchase at this level would provide a Net Initial Yield (niy) of 7.04% accounting for the usual purchasers costs
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