Retail property (high street) for sale
Property description & features
- Tenure: Leasehold (30 years remaining)
- An extended ground floor retail unit (a2 use class) with ancillary accommodation
- 237.30 sq.m (2,554.29 sq. ft.) arranged over three floors
- Ground floor let to ladbrokes for a term of 10 years from jan 2022 at a current rent passing of £10,000 pa (exclusive)
- Upper floors with the benefit of planning permission for conversion to 2 no. self contained flats (ref: pl/05164)
The ground floor retail unit, which has been extended significantly to the rear comprises the main sales area with a shop depth of approximately 15.20m. The main sales area is also supported by ancillary accommodation comprising various storage areas, staff kitchen and w.c. facilities.
The remaining accommodation arranged over the upper floors comprises various size cellular rooms, which can also be accessed independently off the front elevation.
We further advise that the ancillary accommodation arranged over the upper floors (which is currently vacant) was granted planning permission on 7th February 2023 for the change of use from offices (Class B1) to accommodate 1 no. one bedroom flat and 1 no. two bedroom flat (Class C3). Ref: PL/05164.
Description - The subject property comprises a mid terraced three storey retail/ office unit, which is currently occupied for use as a bookmakers over the ground floor (trading as Ladbrokes) with ancillary commercial accommodation arranged over the remaining upper floors.
The ground floor retail unit, which has been extended significantly to the rear comprises the main sales area with a shop depth of approximately 15.20m. The main sales area is also supported by ancillary accommodation comprising various storage areas, staff kitchen and w.c. facilities.
The remaining accommodation arranged over the upper floors comprises various size cellular rooms, which can also be accessed independently off the front elevation.
We further advise that the ancillary accommodation arranged over the upper floors (which is currently vacant) was granted planning permission on 7th February 2023 for the change of use from offices (Class B1) to accommodate 1 no. one bedroom flat and 1 no. two bedroom flat (Class C3). Ref: PL/05164.
Location - The premises is located along Stepney Street within Llanelli town centre, which is considered to be one of the prime retail locations within the town.
Stepney Street is situated within a busy trading location within the pedestrianised area.
Occupiers within close proximity to the subject premises include Boots, The Works, Shoe Zone and Santander, while the entrance to the St Elli Shopping Centre is located approximately 50 yards away.
Accommodation - The subject property affords the following approximate dimensions and areas:
Net Internal Area: 237.30 sq.m (2,554.29 sq. ft.)
GROUND FLOOR
Sales Area: 86.68 sq.m (933.02 sq. ft.)
Shop Depth: 15.20m (49’10”)
Net Frontage: 6.41m (21’0”)
Ancillary: 62.65 sq.m (674.36 sq. ft.)
Comprising staff kitchen, w.c. facilities and additional store areas with fire escape/ loading door to rear.
FIRST FLOOR
Ancillary: 43.66 sq.m (470.02 sq. ft.)
Comprising three individual rooms.
SECOND FLOOR
Ancillary: 44.31 sq.m (476.95 sq. ft.)
Comprising four individual rooms.
Rates - As stated on the VOA website the Rateable Value for the subject premises is as follows:
Rateable Value (2023): £9,900
The Welsh Government set the multiplier according to the Consumer Price Index (CPI) and for the financial year 2024-25 the multiplier will be 0.562.
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 & Tenure - Our client’s interest is available by the way of a Long Leasehold interest, held for a term of 99 years from 25th March 1956 at an initial ground rent of £380 per annum, which is also subject to the following Underlease.
Sub-Lessee: Ladbrokes Betting & Gaming Ltd (Trading as Ladbrokes)
Permitted Use: Licensed Betting Office (A1/A2 Use Class)
Term: 10 Years from 13th January 2022
Rent: £9,000 pa (Years 1-2), £10,000 pa (Years 3-5)
Break Clause: 5th Year subject to 6 months prior written notice
Rent Review: 5th Year
Viewing - By appointment with Sole Agents:
Astleys Chartered Surveyors
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