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Co-operative Investment Sale - Stradey District Centre

Sandy Road , Llanelli, SA15 4BR

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Summary

The development consists of a refurbished 4,000 sq ft building let as a Co-operative convenience store. In addition there is 3,000 sq ft of brand new neighbourhood retail units being constructed adjacent, which is available separately. 

 

  • 4,000 sq ft Convenience Store
  • Unbroken 15 Year Term
  • £50,000 p/a
  • Let To The Co-operative Group Ltd.
Property Type Investment
Tenure For Sale
Status Sold
Price £775,000
Size4,000 sq ft

Location

The property is prominently located in Stradey which is a densely populated residential suburb of Llanelli. The location provides easy access to neighbouring Swansea 8 miles to the East, and the M4 motorway to the North, as well as good rail links being in proximity to Llanelli station.

The immediate vicinity provides a new development of 355 houses by Taylor Wimpey nearing completion, various educational establishments and The Machynys Golf Club.

Sandy Road , Llanelli, SA15 4BR

Description

Specification

The property benefits from the following features.

  • 4,000 sq ft Co-operative convenience store. 
  • Let in shell condition.
  • 3 Phase electrical.
  • 18 Parking spaces. 

Accommodation

Accommodation

Co-operative Convenience Store: 4,000 sq ft / 371.6 sq m

Terms

Tenure 

The freehold interest of the property is available for sale. 

Terms

The unit is let on a new 15 year  fully repairing and insuring lease to The Co-operative Group Ltd at £50,000 per annum. The lease contains 5 yearly rent reviews to open market value together with with annual increases linked to RPI capped at 4% and collared at 1%. A copy of the lease can be made available to interested parties.

Asking Price: £775,000 representing a Net Initial Yield of 6.33%.

Terms for the adjacent retil unit can be made available upon request.  

Other Information

Service Charge

An Estate Service Charge will be in place once construction has completed. Further details available in due course.

Covenant 

The Co-operative Group Ltd are the largest Co-operative in the UK providing a secure income stream. Their most recent accounts (ending January 2016) are highlighted below: 

Revenue £10.037bn
Pre-Tax Profit £81m 
Net Assets  £2.95bn

Planning

The unit benefits from A1 Planning Conscent 

EPC

Available on enquiry. 

VAT & Legal Costs

All prices, premiums and rents are quoted exclusive of VAT. Each party is responsible for their own legal costs incurred in any transaction. 

image of Roger Poolman FRICS

Enquire Now

Roger Poolman FRICS

07775 037782

image of David Blyth MRICS

Enquire Now

David Blyth MRICS

07966 752301

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