High Street, Merthyr Tydfil, South Glamorgan, Merthyr Tydfil (County of), CF47

43-45 High Street are three adjoining buildings located at the southern end of Merthyr Tydfil High Street. Opposite the property is access to the new £12m bus station and interchange which opened in 2021. Merthyr Tydfil railway station is located to the rear of the property.

The properties were comprehensively refurbished by the current owners in 2017 when the majority of the upper floors were converted to residential and sold off on a long lease to a local Housing association. The three retail units are currently fully let and produce a combined income of £65,000 per annum.

Location:
Merthyr Tydfil is a former mining town in South Wales, 24 miles north of Cardiff on the edge of the Brecon Beacons National Park. The town has a population of circa 58,000 and was recently granted £25m to promote regeneration. Bike Park Wales which was opened in 2013 is located near the town and is a national centre for mountain biking, attracting thousands of visitors every year.

Tenancies:
The ground floor of 45 High Street is let to Heron Foods Ltd for a term expiring 11th March 2028 at a current rent of £35,000 pa. The lease provides for the rent to be reviewed on the 5th anniversary (12th March 2023) to open market on an upwards only basis.

The ground floor and part 1st floor of 44 High Street is let to Pure Image Fashions Ltd for a term expiring 7th April 2027 at a current rent of £20,000 with no breaks.

The ground and 1st floor of 43 High Street is let to a local independent card retailer on a 10 year lease at a rent of £10,000 pa, expiring February 2033. There is a tenant option to break on the 5th anniversary.

The remaining 1st floor which has been converted into 8 residential apartments is sold off on a single long lease to a local housing association for a term of 195 years from 28th February 2019. The ground rent paid is a peppercorn.