8-12 Vaughan Street, Llanelli

£600,000 Offers Over

Freehold

Part Freehold and Long Leasehold investment for sale.

The premises comprises two self-contained retail units over two storeys measuring approximately 3,307 sq.m (35,062 sq. ft.) in total. Units 10-12 also benefit from a basement and loading bay to the rear.

Unit 8 is let to Rugby Heaven Ltd at a current of £10,000 per annum in Years 1 & 2, which increases to £12,000 per annum in Years 3 & 4 and then £15,000 per annum in Year 5.

Units 10-12 are let to Poundworld Retail Ltd T/A Discount UK at a current rent of £20,000 per annum, which increases to £40,000 per annum from 21 April 2017.

Llanelli is the largest town in the County of Carmarthenshire situated 11 miles West of Swansea and 54 miles West of Cardiff. The town offers good lines of communication via the main A484, A476 and the M4 motorway (Junction 48).

The subject premises is situated within a prime trading position within close proximity to major occupiers such as Boots, Home Bargains, HSBC and Coral.

Llanelli has an urban catchment population of 46,357 within a district population of 172,842 (2001 Census).

Approximate dimensions and areas:

Total Commercial Floor Area:
3,307 sq.m (35,062 sq. ft.) approx.

UNIT 8
Occupied by Rugby Heaven Ltd.

Ground Floor – Retail: 308 sq.m (3,321 sq. ft.)
First Floor – Ancillary: 224 sq.m (2,412 sq. ft.)

UNITS 10-12
Occupied by Poundworld Retail Ltd. T/A Discount UK*

Ground Floor – Retail: 1,611 sq.m (17,340 sq. ft.)
First Floor – Ancillary: 1,164 sq.m (12,529 sq. ft.)
Basement – Not measured.

* For the year ending 31st March, 2013, Poundworld Retail Ltd. reported a turnover of £293,787,000, pre-tax profits of £1,892,000 and a total net worth of £8,527,000 (Source: Experian).

All relevant enquiries should be made of the Local Authority Rates Department.

VAT is applicable to this transaction. All figures quoted are exclusive of VAT.

Tenure:

Majority Freehold. Part of the property is held Leasehold from Carmarthenshire County Council for a term of 125 years from 25th December, 1980 at a peppercorn rent. Additional documentation is available upon request.

Tenancy:

Unit 8 is let to Rugby Heaven Ltd at a current of £10,000 per annum in Years 1 & 2, which increases to £12,000 per annum in Years 3 & 4 and then £15,000 per annum in Year 5.

Unit 10-12 is let to Poundworld Retail Ltd T/A Discount UK. The original Lease was for a term of 10 years commencing on 21 October, 2009 at an initial rent of £90,000 per annum. The Lease provides for a tenant’s option to determine on 21 October 2016.

A Deed of Variation has subsequently been agreed to waiver the option to determine, subject to the following alterations:

The Basic Rent from and including 27 October 2016 to and including 20 April
2017 shall be £20,000 per annum; and

The Basic Rent from and including 27 April 2017 shall be £40,000 per
annum.

Take the A484 into Llanelli, turn left onto Mincing Lane and right onto Vaughan Street.

By appointment with sole selling agents:

Astleys Chartered Surveyors
Tel: 01792 479850 / 07969 103456
Contact: Sean Thomas BSc Hons MRICS
Email: seanthomas@astleys.net