St Elli Shopping Centre
Llanelli
Carmarthenshire
SA15 1SH

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
    24/Sep/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
Important Update
  • St Elli Shopping Centre, Llanelli, Carmarthenshire, SA15 1SH
  • Expand
  • Photos
  • Map

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

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.

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.

Tenancy & Accommodation

  • Current Gross Rent £632,677 pa
  • Estimated Commercialisation Gross Income (including mall entertainment, vending machines, parcel lockers, solar panels and advertising etc) of £93,292 pa
  • Total actual and estimated gross income is therefore £725,969 pa.

Full Tenancy Schedule available from the legal pack.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Site Plan
    Updated Date
    06.09.21
    File Size
    648 KB
    View PDF
  • Catalogue Page
    Updated Date
    07.09.21
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Cameron McKenna Nabarro Olswang LLP 1-3 Charter Square
Sheffield
S1 4HS
Neil Lacey +44 151 248 8004neil.lacey@cms-cmno.com

Useful Links

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