Substantial Town Centre Shopping Centre Investment
Substantial Shopping Centre comprising 8,400 sq m (90,425 sq ft) retail/ancillary accommodation + Asda and 450 space car park let on a long lease
Large site area totalling approximately 3.13 ha (7.74 acres)
Tenants include Sports Direct, Wilkinson's, Greggs, Card Factory, Poundland & Principality Building Society
Approximately 96% of total floor area is currently let
Approximately 82% of total floor area let to national tenants
Asset Management Opportunities
Lot 15
Auction 24th September 2021
Rent £725,969 per Annum
Status Sold
Price £2,250,000
Sector Shopping Centre
Auction Venue Live Streamed Auction
On Behalf of a Major REIT
Property Information
Location
Miles
11 miles north-west of Swansea
50 miles west of Cardiff
Roads
A4138, A48, M4
Rail
Llanelli
Air
Cardiff Airport
Situation
Llanelli is a busy market town forming the largest community in Carmarthenshire, approximately 11 miles north-west of Swansea and 50 miles north-west of Cardiff. The main entrance to the property is from Stepney Street Precinct, off Stepney Street, with a further entrance from Stepney Place and loading access from Murray Street. The centre is considered the main retailing location within the town and benefits from various nearby car parking facilities. The property is close to Llanelli Indoor & Outdoor Market with other retailers close by including Boots the Chemist, The Works, Home Bargains, Savers Health & Beauty and Specsavers. A £3m regeneration scheme has been announced for the town centre, which plans to connect the town centre to Eastgate with walkways and provide new restaurants, apartments and office space (inyourarea.co.uk/news/3m-regeneration-scheme-planned-for-llanelli-town-centre).
Tenure
Freehold. The entire property is held freehold save for the unit currently occupied by Wilkinsons, which is held leasehold pursuant to a lease dated 20 July 1972,as varied by a deed of variation dated 17 November 2000 granted by Carmarthenshire County Council, for a term of 154 years from 25 Dec 1971 at an rent equivalent to 15% of the income received from the demised premises.
Location
Miles
11 miles north-west of Swansea
50 miles west of Cardiff
Roads
A4138, A48, M4
Rail
Llanelli
Air
Cardiff Airport
Situation
Llanelli is a busy market town forming the largest community in Carmarthenshire, approximately 11 miles north-west of Swansea and 50 miles north-west of Cardiff. The main entrance to the property is from Stepney Street Precinct, off Stepney Street, with a further entrance from Stepney Place and loading access from Murray Street. The centre is considered the main retailing location within the town and benefits from various nearby car parking facilities. The property is close to Llanelli Indoor & Outdoor Market with other retailers close by including Boots the Chemist, The Works, Home Bargains, Savers Health & Beauty and Specsavers. A £3m regeneration scheme has been announced for the town centre, which plans to connect the town centre to Eastgate with walkways and provide new restaurants, apartments and office space (inyourarea.co.uk/news/3m-regeneration-scheme-planned-for-llanelli-town-centre).
Tenure
Freehold. The entire property is held freehold save for the unit currently occupied by Wilkinsons, which is held leasehold pursuant to a lease dated 20 July 1972,as varied by a deed of variation dated 17 November 2000 granted by Carmarthenshire County Council, for a term of 154 years from 25 Dec 1971 at an rent equivalent to 15% of the income received from the demised premises.
Description
St Elli Shopping Centre comprises a ground and first floor covered scheme with pedestrian access from Stepney Street and Stepney Place. The scheme is currently arranged to provide 24 units (all of which are currently let, except two), together with a number of kiosks, advertising hoarding and solar panels. The retail/ancillary accommodation of the shopping centre totals approximately 8,400 sq m (90,425 sq ft) on a site area of approximately 0.98 hectares (2.43 acres). The property also includes the Asda and 450 space car park adjacent, which cover an additional site area of approximately 2.15 hectares (5.31 acres), which have both been let on a long lease at a peppercorn rent (see legal pack for full details). The entire property therefore extends to a total site area of approximately 3.13 hectares (7.74 acres).
VAT
VAT is applicable to this lot.
EPC
See legal pack at www.acuitus.co.uk.
Description
St Elli Shopping Centre comprises a ground and first floor covered scheme with pedestrian access from Stepney Street and Stepney Place. The scheme is currently arranged to provide 24 units (all of which are currently let, except two), together with a number of kiosks, advertising hoarding and solar panels. The retail/ancillary accommodation of the shopping centre totals approximately 8,400 sq m (90,425 sq ft) on a site area of approximately 0.98 hectares (2.43 acres). The property also includes the Asda and 450 space car park adjacent, which cover an additional site area of approximately 2.15 hectares (5.31 acres), which have both been let on a long lease at a peppercorn rent (see legal pack for full details). The entire property therefore extends to a total site area of approximately 3.13 hectares (7.74 acres).
VAT
VAT is applicable to this lot.
EPC
See legal pack at www.acuitus.co.uk.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
