Non quoting
Retail premises for saleBelle Vue Way, Swansea SA1
44,391 sq. ft
Just added
About this property
Unique Investment Opportunity
Tenanted under a 30-Year Term (28.5 Years Remaining)
Rental Income of £30,000 per annum
Long leasehold Premises For sale
Situation
The property is located approximately 1.6 km (1 Mile) to the north of Swansea’s City Centre, on the edge of the retail core, but on one of the main arterial routes into Swansea.
The property occupies a large corner location with frontage to Belle Vue Way. The surrounding area is predominantly commercial, while being in close proximity to residential properties.
Description
The building at 12-24 Belle Vue Way in Swansea is the former site of jt Morgan, which was once regarded as Wales’s largest independent department store.
The premises is now being transformed into a major arts-led regeneration project, turning the long-vacant department store into a vibrant creative hub. Led by Elysium Gallery, the redevelopment has already delivered dozens of fully occupied artist studios for painters, designers, writers and other creatives, with modern upgrades such as a new roof, improved access and sustainable features.
Future phases will open the building to the public, adding a gallery, café, education spaces and event facilities, creating a multi-purpose cultural venue in the city centre. Backed by funding from local and national bodies, the project aims not only to preserve a historic building but also to boost footfall, support creative industries and play a key role in the wider regeneration of Swansea.
Services
The property benefits from water and electric utilities. None of the utilities were tested during the course of our inspection.
Size
Internally, over the 4 levels the accommodation provides a net internal area of 4,124 sqm (44,391 sqft).
Terms
The long leasehold interest in our client’s property is available for sale. The lease commenced in 2024 for a term of 150 years, with a current ground rent of £4,000 per annum, subject to five-yearly reviews.
Price is on Application to seriously interested parties only.
The premises are currently let on a 30-year lease when commenced in 2024, subject to rent reviews every 10 years. The next rent review is due in December 2034.
The passing rent will be £30,000 per annum to December 2026, increasing to £40,000 per annum thereafter. This equates to £0.90 per sq ft, with significant potential for rental uplift at the next review.
We suggest that legal advisers review the long leasehold details.
Viewing
Interested parties should contact the sole agent, Dawsons Commercial on the contact details below;
The property is located approximately 1.6 km (1 Mile) to the north of Swansea’s City Centre, on the edge of the retail core, but on one of the main arterial routes into Swansea.
The property occupies a large corner location with frontage to Belle Vue Way. The surrounding area is predominantly commercial, while being in close proximity to residential properties.
Description
The building at 12-24 Belle Vue Way in Swansea is the former site of jt Morgan, which was once regarded as Wales’s largest independent department store.
The premises is now being transformed into a major arts-led regeneration project, turning the long-vacant department store into a vibrant creative hub. Led by Elysium Gallery, the redevelopment has already delivered dozens of fully occupied artist studios for painters, designers, writers and other creatives, with modern upgrades such as a new roof, improved access and sustainable features.
Future phases will open the building to the public, adding a gallery, café, education spaces and event facilities, creating a multi-purpose cultural venue in the city centre. Backed by funding from local and national bodies, the project aims not only to preserve a historic building but also to boost footfall, support creative industries and play a key role in the wider regeneration of Swansea.
Services
The property benefits from water and electric utilities. None of the utilities were tested during the course of our inspection.
Size
Internally, over the 4 levels the accommodation provides a net internal area of 4,124 sqm (44,391 sqft).
Terms
The long leasehold interest in our client’s property is available for sale. The lease commenced in 2024 for a term of 150 years, with a current ground rent of £4,000 per annum, subject to five-yearly reviews.
Price is on Application to seriously interested parties only.
The premises are currently let on a 30-year lease when commenced in 2024, subject to rent reviews every 10 years. The next rent review is due in December 2034.
The passing rent will be £30,000 per annum to December 2026, increasing to £40,000 per annum thereafter. This equates to £0.90 per sq ft, with significant potential for rental uplift at the next review.
We suggest that legal advisers review the long leasehold details.
Viewing
Interested parties should contact the sole agent, Dawsons Commercial on the contact details below;
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