Lot 87 - 23 Cowell Street, Llanelli, Dyfed, SA15 1UU
- Unconditional Online Auction Sale
- Guide Price* : £55,000
- Bedrooms: 1
- Bathrooms: 1
- Reception Rooms: 1
Kindly visit our website: www.propertyauctionagent.com to register your interest. All participants are required to pay a holding fee to bid in the online auction, with the winning bidder also paying a deposit of 10% of the final bid; the holding fee of the winning bidder is retained by the auctioneers. In instances where a property is sold before the auction, no holding fee is necessary, but a buyers’ premium is mandatory upon exchange. The completion will take place 28 days post-exchange unless the contract specifies otherwise. Pre-auction offers are welcomed.
Description
Property Auction Agent are delighted to bring to online auction 23 Cowell Street, Llanelli.
A fantastic opportunity to acquire a tenanted commercial investment, let on a three-year lease and generating an income of £8,000 per annum, making it an ideal purchase for investors seeking an immediate return.
The property comprises a well-presented ground floor retail unit with a prominent shop frontage, together with a spacious sales area, kitchen and WC facilities.
Occupying a central town location, the property is within close proximity to Llanelli Market, St Elli Shopping Centre and a range of established retailers, benefiting from excellent levels of passing footfall.
A ready-made commercial investment offering an immediate income in a popular location. Viewing is highly recommended.
Measurements & Property Information
The property comprises a ground floor retail unit extending to approx. 1,123 sq ft (104.33 sq m).
The accommodation briefly comprises a spacious retail sales area with prominent dual display windows and a customer entrance to the front, together with a kitchen, staff facilities and public WC to the rear.
Tenure: Leasehold (104 Years remaining)
Tenancy: Currently occupied by tenant under a three-year full repairing & insuring lease (FRI), with full three-year term remaining. Current rent £8,000 PA offering an approximate gross yield of 14.5%.
Rateable Value: £7,700
Business Rates: Approximately £4,373.60 per annum (based on the 2023/24 valuation - interested parties should make their own enquiries)EPC Rating: C (70)
The property occupies a prominent end-of-terrace position on Cowell Street, within close proximity to Llanelli Market and St Elli Shopping Centre.
AUCTION INFORMATION
PLEASE NOTE
It is the responsibility of all purchasers to conduct their own investigation with regards to all aspects of the property and seek legal advice. The Legal Pack will be available on our website prior to the auction commencement. The legal pack can be downloaded through www.propertyauctionagent.com
PAYMENTS
To bid online you will be required to pay a holding fee this will only be retained should you be the successful bidder. To exchange contracts, you will be required to pay a 10% deposit and sign the contract within 24 hours and complete the transaction paying the balance of funds within 28 days, (this timescale may vary always read the contract in the Legal Pack for confirmation).
Due to the timescales involved, we strongly recommend ensuring your finances are in place and seeking qualified legal advice prior to bidding.
Should a sale be agreed pre-auction then a buyers premium will be payable of £2995 + VAT
Accommodation
A spacious retail area with kitchen and WC facilities
Location
Ideally situated in the centre of Llanelli withing close proximity to St Elli Shopping Centre and Llanelli Market
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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