8 and 10/12 Vaughan Street Llanelli Carmarthenshire SA15 3TY

8 and 10/12 Vaughan Street
Llanelli
Carmarthenshire
SA15 3TY

Majority Freehold Retail Investment

Comprises two substantial retail units
Tenants include Burton/Dorothy Perkins Properties Ltd
Situated on prime pedestrianised retail thoroughfare in town centre location
Total approximate floor area of 3,307 sq m (35,602 sq ft)
Nearby occupiers include Barclays Bank, HSBC, Boots the Chemist, Superdrug and Clarks Shoes

Lot
24
Auction
22nd February 2011
Rent
£145,750 per Annum Exclusive
Status
Sold
Price
£800,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers

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Majority Freehold Retail Investment

Comprises two substantial retail units
Tenants include Burton/Dorothy Perkins Properties Ltd
Situated on prime pedestrianised retail thoroughfare in town centre location
Total approximate floor area of 3,307 sq m (35,602 sq ft)
Nearby occupiers include Barclays Bank, HSBC, Boots the Chemist, Superdrug and Clarks Shoes

Lot 24
Auction 22nd February 2011
Rent £145,750 per Annum Exclusive
Status Sold
Price £800,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers

Property Information

Location

11.6 miles north-west of Swansea; 54 miles north-west of Cardiff
Roads: A484, A476, M4 (Junction 48)
Rail: Llanelli Railway Station
Air: Cardiff International Airport

Situation

The property is situated in a prominent position on the eastern side of Vaughan Street, one of the town's primary retail thoroughfares. Nearby occupiers include Barclays Bank, HSBC, Boots the Chemist, Superdrug and Clarks Shoes.

Tenure

Freehold. Part of the property is held leasehold from Carmarthenshire County Council for a term of 125 years from 25th December 1980 at a peppercorn rent (see area shaded blue on the street map and title information within the legal pack)

Location

11.6 miles north-west of Swansea; 54 miles north-west of Cardiff
Roads: A484, A476, M4 (Junction 48)
Rail: Llanelli Railway Station
Air: Cardiff International Airport

Situation

Tenure

Description

The property comprises TWO SELF-CONTAINED GROUND FLOOR RETAIL UNITS with ANCILLARY ACCOMMODATION on the first floor. The unit currently trading as Ethel Austin/Au Naturale also benefits from a basement and loading bay to the rear.

NB. The property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
8 Vaughan Street	Ground First	Retail Ancillary	308 sq m 224 sq m	(3,321 sq ft) (2,412 sq ft)	BURTON/DOROTHY PERKINS PROPERTIES LTD (1)	25 years from 25/03/1988 on a full repairing and insuring lease	£55,750	(25/03/2013)
10/12 Vaughan Street	Ground First Basement	Retail Ancillary	1,611 sq m (17,339 sq ft) 1,164 sq m (12,530 sq ft) Not Measured		LIFE & STYLE RETAIL LTD (2) (t/a Ethel Austin/Au Naturale)	10 years from and including 21/10/2009 on a full repairing and insuring lease (3)(4)	£90,000	21/10/2014 (20/10/2019)
Totals			3,307 sq m	(35,602 sq ft)			£145,750

(1) Burton/Dorothy Perkins Properties Ltd is a subsidiary of Arcadia Group Ltd. For the year ending 29th August 2009, Arcadia Group Ltd reported a turnover of £67,931,000, pre-tax profits of £57,745,000 and a total net worth of £1,076,321,000. (Source: www.riskdisk.com 11/01/2011)
(2) Life & Style was formed in March 2010 following the acquisition of the trade and assets of the former Ethel Austin and Au Naturale chains including 91 stores. The company aims to be trading from over 200 stores within the next two years. (Source: www.crainsmanchesterbusiness.co.uk 17/01/2011)
(3) Please note that the lease provides for a tenant’s option to determine the lease on the fifth anniversary of the term.
(4) Please note that the lease is subject to a schedule of condition.