Hay & Brecon Farmers Tremont Road Llandrindod Wells Powys LD1 5BE

Hay & Brecon Farmers
Tremont Road
Llandrindod Wells
Powys
LD1 5BE

Freehold Retail Investment

Let to Hays & Brecon Farmers Limited
Annual fixed rental increases
Includes car parking and a yard
Site area of approximately 0.65 hectares (1.6 acres) with a site coverage of approximately 12.16%
Nearby occupiers include Aldi, Tesco, HSBC and Lloyds Bank

Lot
7
Auction
14th February 2019
Rent
£65,582 per Annum Exclusive
Status
Sold
Price
£660,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Joint LPA Receivers A B Hughes & J P Smith

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Freehold Retail Investment

Let to Hays & Brecon Farmers Limited
Annual fixed rental increases
Includes car parking and a yard
Site area of approximately 0.65 hectares (1.6 acres) with a site coverage of approximately 12.16%
Nearby occupiers include Aldi, Tesco, HSBC and Lloyds Bank

Lot 7
Auction 14th February 2019
Rent £65,582 per Annum Exclusive
Status Sold
Price £660,000
Sector
Retail Warehouse
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Joint LPA Receivers A B Hughes & J P Smith

Property Information

Location

Miles: 27 miles west of Leominster, 31 miles north-west of Hereford, 53 miles north of Cardiff
Roads: A483, A44, A470
Rail: Llandrindod Wells Train Station
Air: Cardiff International Airport

Situation

Llandrindod Wells is an attractive spa and market town and is the administrative centre of the County of Powys. It is one of the largest market towns in the area and is a thriving conference and business meeting destination (www.visitmidwales.co.uk). The property is well situated in a prominent location on the west side of the busy Tremont Road (A483). Nearby occupiers include Aldi, Tesco, HSBC and Lloyds Bank.

Tenure

Freehold.

Location

Miles: 27 miles west of Leominster, 31 miles north-west of Hereford, 53 miles north of Cardiff
Roads: A483, A44, A470
Rail: Llandrindod Wells Train Station
Air: Cardiff International Airport

Situation

Tenure

Freehold.

Description

The property comprises a retail warehouse with ancillary accommodation. The property benefits from car parking and a yard with a total site area of approximately 0.65 hectares (1.6 acres) and a site coverage of approximately 12.16%. There is also an electrical sub-station on the site.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability. There is a restriction on a resale within 12 months, see legal pack for details.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Note

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews (Reversion)
Ground	Retail Warehouse	788.27 sq m	(8,485 sq ft)	HAY & BRECON FARMERS LIMITED (1) (2) (3)	15 years from 16/11/2008 on a full repairing and insuring lease (4)	£65,582.55	Fixed rent reviews rising to: £67,386.07: 16/11/2019 £69,239.19: 16/11/2020 £71,143.27: 16/11/2021 £73,099.71: 16/11/2022 (15/11/2023)
Total		788.27 sq m	8,485 sq ft)			£65,582.55

(1) For the year ending 31st May 2017, Hay & Brecon Farmers Limited reported a turnover of £17,492,281, pre-tax losses of £50,593 and a total net worth of £4,121,140 (Source: Experian 18/12/2018). Hay & Brecon Farmers is a long established company and has been in business since 1902.
(2) Hay & Brecon Farmers is sub-letting part of the yard at the rear and part of the warehouse for a term of 18 months from 16/05/2011 at a rent of £4 pa and the tenant is currently holding over.
(3) The lease is subject to a pre-emption on alienation clause giving the landlord the right to obtain Vacant Possession in the event that the tenant desires to assign the lease or sublet.
(4) The lease is subject to a schedule of condition.