Lyric Buildings &
6 King Street
Carmarthen
Carmarthenshire
SA31 1BD

Freehold Retail, Leisure and Office Investment

  • Five shops, nightclub and office accommodation with future development potential (subject to consents)
  • Town centre location adjacent to the 600 seat Lyric Theatre
  • Carmarthen ranked as one of the top retail centres in Wales in 2017 (11)
  • Substantial property comprising approximately 2,573.10 sq m (27,699 sq ft)
  • Lot
    37
  • Auction
    14/Feb/2019
  • Rent
    £131,060 per Annum Exclusive
  • Status
    Sold
  • Price*
    £410,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager
Important Auction & Property Update
  • Lyric Buildings &<br>6 King Street<br>Carmarthen<br>Carmarthenshire<br>SA31 1BD
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
27 miles north-west of Swansea
60 miles west of Cardiff
100 miles west of Bristol
Roads
A40, A48, M4
Rail
Carmarthen Railway Station
Air
Cardiff International Airport
Situation

Carmarthen is the county town of Carmarthenshire, located some 27 miles north-west of Swansea and 60 miles west of Cardiff. Benefitting from a £74 million development in 2010, Carmarthen was ranked last year as one of the top retail centres in Wales. The town is served by the A40 and A48, which connect with the M4 Motorway to the east. The property is situated within the town centre, with frontage onto both King Street and Queen Street. The Lyric Theatre, a 600 seat performing arts centre, is accessed from King Street between Units 9A and 9B. Other nearby occupiers include Co-operative Food, NatWest, B&M and JD Wetherspoon.

Tenure

Freehold.

Description

The building comprises accommodation on basement, ground and three upper floors to provide five retail units, a nightclub and five offices suites. The upper floors provide future development potential (subject to consent) with sufficient accommodation for twenty 700 sq ft flats. Indicative plans can be found in the legal pack.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit No.FloorUse
Floor Areas (Approx)
TenantTermRent p.a.xReview/
(Reversion)
7 Queen
Street
GroundBar
175.00 sq m
(1,883 sq ft)
INDIVIDUAL
t/a Mojitos Bar (1)
15 years from
25/03/2013
£7,20001/06/2018 (2)
and 01/06/2023
(01/06/2028)
7 Queen
Street
BasementNightclub
393.20 sq m
(4,233 sq ft)
INDIVIDUAL
t/a Metro Nightclub (1)
30 years from
01/06/1998
£21,50001/06/2018 (2)
and 01/06/2023
(01/06/2028)
7A King
Street
GroundRetail
62.10 sq m
(669 sq ft)
VACANT POSSESSION
(3)
   
7B King
Street
GroundRetail162.40 sq m(1,748 sq ft)FLORENCE
OPPORTUNITIES
(CARMARTHEN) LTD
t/a Morgan Edward
Hairdresser (4)
10 years from
12/08/2013 (5)
£12,00011/08/2018 (2)
(12/08/2023)
9A King
Street
GroundRetail/
Ancillary
93.40 sq m(1,005 sq ft)BRITISH RED CROSS
SOCIETY (6)
10 years from
01/08/2011
£17,650(01/08/2021)
9B King
Street
Ground/
Basement
Retail/
Ancillary
160.50 sq m(1,728 sq ft)EMMA PHILLIPS
BRIDAL STUDIO LTD t/a
Jackie James Menswear
(7)
7 years from
04/09/2015
£13,50004/09/2018 (2)
(04/09/2022)
1B Queen
Street
FirstOffice178.20 sq m(1,918 sq ft)VACANT
POSSESSION
   
Lyric
Building
FirstOffice408.70 sq m(4,400 sq ft)VACANT
POSSESSION
   
Lyric
Building
SecondOffice612.70 sq m(6,595 sq ft)CEREBRA – FOR BRAIN
INJURED CHILDREN
AND YOUNG PEOPLE
20 years from
01/05/2007 (8)
£51,95001/05/2019 and
01/05/2023
(01/05/2027)
1A Queen
Street
ThirdOffice194.20 sq m(2,091 sq ft)VACANT POSSESSION
(9)
   
1C King
Street
ThirdOffice132.70 sq m(1,429 sq ft)BARTLEY OAKMONT
LTD (10)
6 years from
24/07/2014
£7,260(24/07/2020)
Total
2,573.10 sq m
(27,699 sq ft)
  £131,060 

(1) The tenant is not currently trading from the unit and has requested a surrender of their lease which has been refused by the Seller. Please refer to the legal pack.
(2) The 2018 rent review is outstanding.
(3) Unit 7A is currently let to Better Gentleman Ltd, however the tenant is not in occupation or paying rent.
(4) First opened in 2009, Morgan Edward Hairdressers now operates from two salons in West Wales (Source: morganedward.co.uk 08/11/2018). The tenant of 7B King Street did NOT exercise their option to determine in August 2018.
(5) The lease of 7B King Street provides an option to determine upon 6 months’ notice.
(6) The British Red Cross is a registered charity that helps millions of people in the UK and around the world (Source: www.redcross.org.uk 08/11/2018).
(7) Jackie James offers stylish menswear and unique wedding outfits (Source: www.jackiejames.wales 08/112018). The tenant of 9B King Street did NOT exercise their option to determine in September 2018.
(8) Please note that the tenant has served notice to break the lease on 30th April 2019.
(9) As to 14 Queen Street, The Money Recovery Centre has a tenancy at will but has served notice to vacate on 24th March 2019.
(10) Bartley Oakmont Ltd works as an introducer to provide customers with reviews of their current life or home insurance policies (Source: bartleyoakmont.co.uk 08/11/2018).
(11) Source: Harper Dennis Hobbs Vitality Index 2017.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    14.02.19
    File Size
    146 MB
    Login to View
  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    334 KB
    View PDF
  • Site Plan
    Updated Date
    24.01.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regent Street
London
W1B 2AD
Alexy Pemberton 020 7355 6008alexy.pemberton@hamlins.com

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