Tenants include Burton/Dorothy Perkins Properties Ltd
Situated on prime pedestrianised retail thoroughfare in town centre location
Total approximate floor area of 3,307 sq m (35,602 sq ft)
Nearby occupiers include Barclays Bank, HSBC, Boots the Chemist, Superdrug and Clarks Shoes
Lot 24
Auction 22nd February 2011
Rent £145,750 per Annum Exclusive
Status Sold
Price £800,000
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers
Property Information
Location
11.6 miles north-west of Swansea
54 miles north-west of Cardiff
Roads
A484, A476, M4 (Junction 48)
Rail
Llanelli Railway Station
Air
Cardiff International Airport
Situation
The property is situated in a prominent position on the eastern side of Vaughan Street, one of the town's primary retail thoroughfares. Nearby occupiers include Barclays Bank, HSBC, Boots the Chemist, Superdrug and Clarks Shoes.
Tenure
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 (see area shaded blue on the street map and title information within the legal pack)
Location
11.6 miles north-west of Swansea
54 miles north-west of Cardiff
Roads
A484, A476, M4 (Junction 48)
Rail
Llanelli Railway Station
Air
Cardiff International Airport
Situation
The property is situated in a prominent position on the eastern side of Vaughan Street, one of the town's primary retail thoroughfares. Nearby occupiers include Barclays Bank, HSBC, Boots the Chemist, Superdrug and Clarks Shoes.
Tenure
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 (see area shaded blue on the street map and title information within the legal pack)
Description
The property comprises TWO SELF-CONTAINED GROUND FLOOR RETAIL UNITS with ANCILLARY ACCOMMODATION on the first floor. The unit currently trading as Ethel Austin/Au Naturale also benefits from a basement and loading bay to the rear.
NB. The property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises TWO SELF-CONTAINED GROUND FLOOR RETAIL UNITS with ANCILLARY ACCOMMODATION on the first floor. The unit currently trading as Ethel Austin/Au Naturale also benefits from a basement and loading bay to the rear.
NB. The property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
8 Vaughan Street
Ground First
Retail Ancillary
308 sq m 224 sq m
(3,321 sq ft) (2,412 sq ft)
BURTON/DOROTHY PERKINS PROPERTIES LTD (1)
25 years from 25/03/1988 on a full repairing and insuring lease
£55,750
(25/03/2013)
10/12 Vaughan Street
Ground First Basement
Retail Ancillary
1,611 sq m (17,339 sq ft) 1,164 sq m (12,530 sq ft) Not Measured
LIFE & STYLE RETAIL LTD (2) (t/a Ethel Austin/Au Naturale)
10 years from and including 21/10/2009 on a full repairing and insuring lease (3)(4)
£90,000
21/10/2014 (20/10/2019)
Totals
3,307 sq m
(35,602 sq ft)
£145,750
(1) Burton/Dorothy Perkins Properties Ltd is a subsidiary of Arcadia Group Ltd. For the year ending 29th August 2009, Arcadia Group Ltd reported a turnover of £67,931,000, pre-tax profits of £57,745,000 and a total net worth of £1,076,321,000. (Source: www.riskdisk.com 11/01/2011) (2) Life & Style was formed in March 2010 following the acquisition of the trade and assets of the former Ethel Austin and Au Naturale chains including 91 stores. The company aims to be trading from over 200 stores within the next two years. (Source: www.crainsmanchesterbusiness.co.uk 17/01/2011) (3) Please note that the lease provides for a tenant’s option to determine the lease on the fifth anniversary of the term. (4) Please note that the lease is subject to a schedule of condition.
