AA Unit, Cillefwr Industrial Estate, Alltycnap Road, Johnstown, Carmarthen, Dyfed, SA31 3RY

Guide Price* : £350,000

Freehold Ground Rent Investment

  • Freehold ground rent investment
  • 94 years unexpired
  • Annual RPI linked rent reviews
  • Current rent of £15,062.52 per annum
  • Guide Price of £350,000 reflects a gross yield of 4.3%
  • Fixed RPI increases mean rental increase to £15,634.90 per annum in September (4.5% gross yield)

Description

The property comprises a parcel of freehold land totaling 0.84 acres (0.34 hectares) developed in the 1970s as a depot for the AA and which is presently used as a tyre fitting bay and vehicle service centre.

The property includes a large yard area with buildings to one side (site coverage 14%), these include an office/reception area and two workshop bays which appear to be of steel frame with brick cladding. There is additional storage space in the form of a lean-to whilst much of the yard area is used as open storage space in conjunction with the tenants tyre business.

Location

The property is located in Carmarthen, the principal town of Carmarthenshire, West Wales. The town lies 28 miles north west of Swansea and 30 miles east of Haverfordwest.

The property is situated in the south west of Carmarthen and is accessed from Alltyncap Road, which runs parallel to and directly connects to the A40, the principal roadway in South West Wales.

Tenure

Freehold

Tenancy

The property is let on a long lease expiring in 2115 and paying an annual rent of £15,062.52.

The rent is reviewed annually in line with the Retail Price Index with the next review due 29 September 2021. The rent is due to increase to £15,634.90 per annum in line with RPI.

VAT

The property is not elected for VAT

Contact

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.

Bidding not yet open
Minimum Opening Bid

£300,000


Bidding Opens On
6th Oct 2021 12:00
Scheduled End Date

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The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.


Office Contact

Max Mason
07917 865 212

Legal Documents

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Agreement Documents


Subject to Contract and Exclusive of VAT © Lambert Smith Hampton September 2021

Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any ("LSH") for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.