Restaurant/cafe for sale in Cowell Street, Llanelli SA15

The subject property comprises an end terraced two-storey commercial unit, currently occupied for use as a retail unit/ coffee shop, trading as Beachside Coffee Shop.

Internally, the subject premises benefits from a double fronted ground floor retail unit, which has been subdivided in part to accommodate a full fitted service counter, with a small preparation area and customer w.c. Facilities to the rear. The first floor, which can be accessed internally off the ground floor also accommodates a secondary sales area for additional covers. Ancillary accommodation in the form of a private office room, store area and additional customer toilet facilities are also located over the first floor.

The business boasts an established trade which is situated along a busy main thoroughfare within Llanelli town centre. The subject premises is fully fitted and equipped for its intended use to include a range of catering equipment.

The entire premises is currently held on an occupational leasehold agreement, for a term of 5 years from 1st November 2021 at an initial rent of £10,200 per annum (exclusive). The Lease also has provisions for periodic rent reviews, increasing to £10,800 per annum for the second year and £11,400 per annum for the third year.

We therefore advise that the subject premises will be offered for sale, to include the client's Leasehold interest and Tenant's fixtures and fittings associated with the business, which will be subject to a proposed assignment of the existing occupational lease or alternatively a proposed surrender and re-grant of a new effective lease, which will be subject to the Landlord's prior written consent.

Description

The subject property comprises an end terraced two-storey commercial unit, currently occupied for use as a retail unit/ coffee shop, trading as Beachside Coffee Shop.

Internally, the subject premises benefits from a double fronted ground floor retail unit, which has been subdivided in part to accommodate a full fitted service counter, with a small preparation area and customer w.c. Facilities to the rear. The first floor, which can be accessed internally off the ground floor also accommodates a secondary sales area for additional covers. Ancillary accommodation in the form of a private office room, store area and additional customer toilet facilities are also located over the first floor.

The business boasts an established trade which is situated along a busy main thoroughfare within Llanelli town centre. The subject premises is fully fitted and equipped for its intended use to include a range of catering equipment such as a glass fronted display cabinet and service counter, various under-counter refrigeration and freezer units, countertop griddle, electric oven, coffee machine, drinks display fridge, glass washer, etc.

The entire premises is currently held on an occupational leasehold agreement, for a term of 5 years from 1st November 2021 at an initial rent of £10,200 per annum (exclusive). The Lease also has provisions for periodic rent reviews, increasing to £10,800 per annum for the second year and £11,400 per annum for the third year.

We therefore advise that the subject premises will be offered for sale, to include the client's Leasehold interest and Tenant's fixtures and fittings associated with the business, which will be subject to a proposed assignment of the existing occupational lease or alternatively a proposed surrender and re-grant of a new effective lease, which will be subject to the Landlord's prior written consent.

Location

The subject premises is located along Cowell Street within Llanelli town centre, which is considered to be a popular trading location within the town.

Cowell Street also adjoins both John Street and Murray Street, which are considered to be one of the main professional sector within the town with the majority of estate agents, solicitors and financial institutions located here, providing a good passing trade to benefit the existing business.

The subject property is located along a parade of similar commercial units with neighbouring occupiers include a range hot food take-aways, licenced premises and general retailing.

Accommodation

The subject premises affords the following approximate dimensions and areas:

Ground floor

Net Internal Area: 62.26 sq.m (670.23 sq. Ft.)

Sales Area: 59.56 sq.m (641.10 sq. Ft.)
subdivided in part to accommodate the main service counter and preparation area.

Shop Depth: 9.34m (30’8”)

Internal Width: 9.94m (32’7”)

Ancillary: 2.70 sq.m (29.06 sq. Ft.)
which briefly comprises the following.

Customer W.C. Facilities

Prep Area: 1.63m x 1.66m

Store Area: 1.10m x 1.06m

First floor

Net Internal Area: 49.65 sq.m (534.43 sq. Ft.)

Ancillary Sales: 47.15 sq.m (507.52 sq. Ft.)
comprising an open sales area which can be accessed of the main sales area at ground floor level via an internal stairwell, subdivided in part to accommodate a small office room, with doors to.

Customer W.C. Facilities

Ancillary: 2.50 sq.m (26.91 sq. Ft.)
which briefly comprises the following.

Store Room: 1.61m x 3.22m (max)

Rates

As stated on the voa website the Rateable Value for the subject premises is as follows:

Rateable Value (2023): £6,700

From April 2018 the Welsh Government set the multiplier according to the Consumer Price Index (cpi) and for the financial year 2023/24 the multiplier will be 0.535.

Rates relief for small businesses in Wales will apply up to 31st March 2020. Rates relief for small business with a rateable value up to £6,000 will receive 100% relief and those with a rateable value between £6,001 and £12,000 will receive relief that will be reduced on a tapered basis from 100% to zero.

We advise that all enquiries should be made with the Local Authority Rates Department to verify this information. For further information visit .

Vat

All figures quoted are exclusive of VAT. Our client reserves the right to levy VAT on this transaction (if applicable).

Terms And Tenure

Our client's interest is available on an occupational lease agreement with effect from 1st November 2021 for a term of 5 years at an initial rent of £10,200 per annum (exclusive) for use as a hot and cold food premises or café within Use Class A3 of the Town and Country Planning (Use Classes) Order 1987. The Lease also has provisions for periodic rent reviews, increasing to £10,800 per annum for the second year and £11,400 per annum for the third year.

The client's Leasehold interest is available subject to the proposed premium quoted in our particulars, as consideration for the Tenant's fixtures and fittings.

A copy of the Lease is also available on request.

Viewing

By appointment with Sole Agents:

Astleys Chartered Surveyors
Tel: Email: