TYPEOther, Mixed Use, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON9th July 2024
Description
The property comprises a mixed use retail and ground rent investment forming part of a popular local parade.
Arranged across basement, ground and three upper floors; the ground floor and basement comprises a retail unit which is let to a private individual trading as a Polish Supermarket. The lease is for a term of 10 years expiring 10/10/2028 and producing £10,000 per annum.
The upper parts are let on a single 125 year lease expiring 02/09/2129 and producing a current ground rent of £1,350 per annum. There is a fixed uplift in the ground rent in 2029 to £2,025 per annum with further reviews every 25 years thereafter.
Cowell Street is a popular secondary retail location with low levels of vacancy, the street leads directly to the pedestrianised Stepney Street and a lane immediately opposite the property leads to the St. Elli Shopping Centre and Llanelli Market Hall.
