Property for sale
Property description & features
- PARTLY LET RETAIL INVESTMENT OPPORTUNITY (83% OCCUPIED)
- 3 NO. SELF-CONTAINED GROUND FLOOR UNITS EQUATING TO 138.38 SQ.M (1,489.52 SQ. FT.)
- PROMINENT POSITION ALONG MAIN DISTRIBUTION ROAD (MAIN A474)
- CURRENT RENT PASSING OF £22,400 PA (EXCLUSIVE) WITH RVERSIONARY RENT OF CIRCA £30,000 PA
- STRONG REVERSIONARY YIELD OF APPROXIMATELY 11.54% IF FULLY LET
We further advise that Units 1-2 are currently let, producing a current rent passing of £22,400 per annum (exclusive). Unit 1 is occupied for use as a hot food takeaway, trading as Ali Express, held on an occupational leasehold agreement for a term of 15 years from 30th May 2016 at a current rent passing of £10,400 per annum. Unit 2 is currently occupied for use as a fish and chip shop, trading as The Trading Post, held on an occupational leasehold agreement for a term of 10 years from 5th May 2022 at a current rent passing of £12,000 per annum. The remaining unit (Unit 3) is currently vacant.
The subject premises also benefits from an open courtyard and parking area, comprising various customer parking facilities for approximately 10-12 vehicles, which can be accessed directly off the main highway to the front.
Description - The subject premises comprises a multi-let commercial investment opportunity, comprising three self-contained ground floor retail units, situated along a prominent main road position fronting the A474.
We further advise that Units 1-2 are currently let, producing a current rent passing of £22,400 per annum (exclusive). Unit 1 is occupied for use as a hot food takeaway, trading as Ali Express, held on an occupational leasehold agreement for a term of 15 years from 30th May 2016 at a current rent passing of £10,400 per annum. Unit 2 is currently occupied for use as a fish and chip shop, trading as The Trading Post, held on an occupational leasehold agreement for a term of 10 years from 5th May 2022 at a current rent passing of £12,000 per annum. The remaining unit (Unit 3) is currently vacant.
The subject premises also benefits from an open courtyard and parking area, comprising various customer parking facilities for approximately 10-12 vehicles, which can be accessed directly off the main highway to the front.
Location - The property is located directly off Graig Road, within the village of Gwaun Cae Gurwen.
Gwaun Cae Gurwen is an established village and community within the County of Carmarthenshire, which has a population of approximately 3,084 (2011 Census).
The property also affords immediate access directly off the main A474, which provides good lines of communication to established settlements including Pontardawe to the east and furthermore Ammanford to the west, which is approximately 5 miles away.
Further links to Swansea (approximately 15miles away) are also easily accessible via the main A483, A48 and the M4 Motorway (J49), which is approximately 10 miles to the south.
Accommodation - The subject premises affords the following approximate dimensions and areas:
GROUND FLOOR
Unit 1 (Ali Express)
Net Internal Area: 38.75 sq.m (417.14 sq. ft.)
Sales: 12.20 sq.m (131.32 sq. ft.)
Shop Depth: 4.45m (14'7")
Net Frontage: 2.95m (9'8")
Ancillary: 26.55 sq.m (285.78 sq. ft.)
which briefly comprises the following.
Kitchen: 6.37m x 2.10m
Prep Area: 6.29m x 2.18m
W.C. Facilities
Unit 2 (Trading Post Fish & Chips)
Net Internal Area: 76.09 sq.m (819.03 sq. ft.)
Sales: 43.45 sq.m (467.69 sq. ft.)
Shop Depth: 4.45m (14'7")
Net Frontage: 5.90m (19'4")
Ancillary: 32.64 sq.m (351.33 sq. ft.)
which briefly comprises the following.
Kitchen: 4.70m x 4.37m
with door to.
Prep Area: 3.42m x 4.36m
with door to.
W.C. Facilities
Unit 3 (Vacant)
Net Internal Area: 23.54 sq.m (253.47 sq. ft.)
Sales: 23.54 sq.m (253.47 sq. ft.)
Shop Depth: 4.45m (14'7")
Net Frontage: 2.95m (9'8")
W.C. Facilities
Rates - As stated on the VOA website the Rateable Value (April 2023) for the subject premises is as follows:
Unit 1: £2,150
Unit 2: £6,800
Unit 3: £880
From April 2018 the Welsh Government set the multiplier according to the Consumer Price Index (CPI) and for the financial year 2023-24 the multiplier will be 0.535.
Rates relief for small business with a rateable value up to £6000 will receive 100% relief and those with a rateable value between £6,001 and £12,000 will receive relief that will be reduced on a tapered basis from 100% to zero.
We advise that all enquiries should be made with the Local Authority Rates Department to verify this information. For further information visit .
Vat - Please be advised that all figures quoted are exclusive of VAT (where applicable).
Terms And Tenure - We advise that the Freehold interest is available for sale, which is subject to the following occupational leases.
Unit 1 - Let to private individuals (trading as Ali Express) for a term of 15 years from 30th May 2016 at a current rent passing of £10,400 per annum (exclusive). The Lease also has provisions for periodic rent reviews every 5 years.
Unit 2 - Let to private individuals (trading as Trading Post Fish & Chip Shop) for a term of 10 years from 5th May 2022. at a current rent passing of £12,000 per annum (exclusive). The Lease also has provisions for periodic rent reviews every 3 years.
Viewing - By appointment with Sole Agents:
Astleys Chartered Surveyors
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