Lot - Access Land off Wilfred Way, Parc Eirin, Tonyrefail, CF39 8JQ

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Simon Riggall

simon.riggall@bidx1.com
+44 (0) 7732 681 151

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BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Gareth Baker

gbaker@acuitylegal.co.uk
02920 674 423
Description
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Property Summary
  • Freehold access road
  • Serving green energy wind park
  • Currently producing £15,248 pa
  • Fixed £2,000 increase at year 10
  • Annual RPI rent uplifts
  • Opportunity for enhanced income
Tenure

Freehold

Location

Parc Eirin is situated between Tonyrefail and Gilfach Goch, approximately 7 miles to the north of J34 of the M4, via the A4093 link to the A4119 Ely Valley Road. The centre of Cardiff is some 16 miles to the south, and to the east lies the AS470 M4/A470 Heads of the Valley Road. Access to the land is via Wilfred Way, a purpose built access road serving a large under way new residential development, one of a number in the immediate area.
The land offers sweeping views across the valley to Tonyrefail, and to the rear of the land is an elevated ridge, along which there has been developed the Mynedd Portref wind turbine farm, a part of the Taff Ely complex providing power for an estimated 6,000 homes.

Description

The property lies at the head of Wilfred Way, at the entrance to the Parc Eirin site, where there has been developed a hardcore faced plateau area, off which there rises a hardcore surfaced roadway constructed and maintained by the tenants, leading up the hill towards the ridge which has allowed Renewable Energy Generation Ltd to erect and service six 12-MW turbines as a part of a larger wind farm complex along the ridge. 
There is potential for two other green energy companies with turbines along the ridge to request the option for access to renew their turbines using the access way.

Note: 

The access road offers potential for an easier access to the ridge for other operators within the wind farm complex along the ridge. Two operators have a reserved access opportunity contained within the lease:

Note 1) Ventient Energy Ltd (Co No 08183100) operate the adjacent  Headwind Taff Energy Wind Farm which is due for early replacement and have previously agreed a similar lease at a rent of £13,650 pa for access to demolish and rebuild a large new facility for which they have planning consent.

Note 2) Fim Services Ltd (Co No 01418579) operate the adjacent Llanbad Fawr Wind Farm have previously expressed interest in the access road and a rent of £13,650 has been quoted.

Tenancy

The property is leased to Mynydd Portref Wind Farm Ltd (Co no 08183100) for a term of 27 years from 26th April 2016, with the right to renew for a further 50 years.

Rental Information

Total Current Rent Reserved £15,248 pa (Jan 2020) subject to Annual RPI uplift with a September 2019 rent of circa £15,196 pa.
In year 10 the base rent increases by £2,000 pa 

VAT
Please refer to Legal Documents

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