Retail property (high street) for sale
Property description & features
- Tenure: Leasehold
- Lease and business for sale
- Longstanding news agents within ammanford town centre
- Established trade with turnover of approx. £293,000 pa
Internally the premises accommodates a small sales area, which is also supported by ancillary accommodation to the rear, to include a small office and w.c. facilities.
Our client's Leasehold interest is being offered for sale as a going concern to include the business fixtures and fittings. The business comprises a news agents and general stores, trading as Arcade News. The business has been trading for a number of years, holding a longstanding trade within the local community.
In addition, we have been advised that the proposed sale will be subject to a new effective occupational lease, with the business being located to Unit 6 The Arcade, which appears to be a larger two-storey retail unit.
Description - The subject premises comprises a small self-contained ground floor retail unit/ lock up shop, located within a popular arcade and parade of retail units within Ammanford town centre.
Internally the premises accommodates a small sales area, which is also supported by ancillary accommodation to the rear, to include a small office and w.c. facilities.
Our client's Leasehold interest is being offered for sale as a going concern to include the business fixtures and fittings. The business comprises a news agents and general stores, trading as Arcade News. The business has been trading for a number of years, holding a longstanding trade within the local community.
Location - The subject property forms part of a parade of self-contained retail units within The Victorian Arcade in Ammanford town centre.
This is a popular Grade II Listed arcade dating back to 1899, which accommodates a range of independent traders and local business. The arcade runs from College Street up to the piazza at Margaret Street car park, within a prominent trading location close to Ammanford Square.
Established occupiers within the immediate vicinity also include The Co-operative, Dominos Pizza, Jenkins, Lloyds Bank, and Boots while the pedestrianised area of Quay Street is a short walking distance from the premises.
Ammanford is served by the A483 and A474 roads and Ammanford local railway station is a stop on the Heart of Wales Line with trains to Llanelli and Swansea to the south and Shrewsbury to the north. We further advise that the main bus depot is also located directly opposite the subject premises.
Accommodation - The subject premises affords the following approximate dimensions and areas:
Unit 11, The Arcade
Net Internal Area: 24.35 sq.m (262.19 sq. ft.)
GROUND FLOOR
Sales: 21.16 sq.m (227.76 sq. ft.)
Shop Depth: 5.57m (18'3")
Internal Width: 3.80m (12'5")
Ancillary: 3.19 sq.m (34.33 sq. ft.)
comprising a small office/ store area and w.c. facilities.
Rates - As stated on the VOA website the Rateable Value for the subject premises is as follows:
Unit 11, The Arcade: £2,650
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 businesses in Wales will apply up to 31st March 2020. Rates relief for small business with a rateable value up to £6,000 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 - All figures quoted are exclusive of VAT. Our client reserves the right to levy VAT on this transaction (if applicable).
Terms And Tenure - We offer for sale our client's interest which is held on an occupational leasehold agreement subject to a premium quoted within our particulars.
At present the current rent passing in relation to Unit 11, The Arcade is £2,848 per annum (exclusive), which is also subject to a building insurance contribution of £120 per annum. We have also been informed that the occupational lease will be subject to a service charge levy.
Viewing - By appointment with Sole Agents:
Astleys Chartered Surveyors
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