Office for sale in Murray Street, Llanelli SA15

The subject premises comprises a mid terraced, three-storey, commercial building situated along a prominent main road position within Llanelli town centre. We advise that the premises is currently occupied for use as professional offices, which is let on a standard occupational business lease to Peter Lynn & Partners Solicitors.

Internally, the premises can be accessed via a standard entrance foyer, over a number of concrete steps from the pedestrian walkway to the front, which leads to an extended reception area. The main reception area is also supported by a private meeting room, staff kitchen and w.c. Facilities, which are located further to the rear at ground floor level.

The remaining accommodation arranged over the upper floors comprises various size office rooms (comprising a further five office rooms) and w.c. Facilities.

No designated parking is available on site but we do note that adequate time restricted on street parking is available within close proximity to the subject property.

Description

The subject premises comprises a mid terraced, three-storey, commercial building situated along a prominent main road position within Llanelli town centre. We advise that the premises is currently occupied for use as professional offices, which is let on a standard occupational business lease to Peter Lynn & Partners Solicitors.

Internally, the premises can be accessed via a standard entrance foyer, over a number of concrete steps from the pedestrian walkway to the front, which leads to an extended reception area. The main reception area is also supported by a private meeting room, staff kitchen and w.c. Facilities, which are located further to the rear at ground floor level.

The remaining accommodation arranged over the upper floors comprises various size office rooms (comprising a further five office rooms) and w.c. Facilities.

No designated parking is available on site but we do note that adequate time restricted on street parking is available within close proximity to the subject property.

Location

The property is situated along Murray Street within Llanelli town centre.

The immediate vicinity is considered to be one of the main professional sector within the town with the majority of estate agents, solicitors and financial institutions located here.

Accommodation

The subject property affords the following approximate dimensions and areas:

Ground floor

Net Internal Area: 58.29 sq.m (627.43 sq. Ft.)

Entrance Foyer: 1.51m x 2.21m
with doors to.

Reception: 3.99m x 8.75m
with door to.

Hallway:
Stairs to first floor, doors to.

Meeting Room: 2.08m (plus bay) x 4.41m

Store Cupboard: 0.85m x 1.17m

Staff Kitchen: 2.28m x 3.14m
fitted with a range of wall and base units.

Staff W.C. Facilities

First floor

Net Internal Area: 44.68 sq.m(480.93 sq. Ft.)

Office 1: 5.64m x 3.90m

Office 2: 3.62m x 3.82m

Staff W.C. Facilities

Office 3: 3.57m x 2.98m

Second floor

Net Internal Area: 26.47 sq.m (284.92 sq. Ft.)

Office 4: 3.24m x 3.05m

Office 5: 5.27m x 3.80m (max)

Rates

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

Rateable Value (2023): £7,400

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 for sale on a Long Leasehold interest, which is held for a term of 99 years from 29th September 1937 at an initial ground rent of £10 per annum.

Our client is also in discussions with the Freeholder to extend his leasehold interest for a proposed term of 125 years. The Lease will also have provisions for 5 yearly rent reviews, subject to a ground rent to be negotiated.

We also advise that the entire property is currently held on an Under-Lease to Peter Lynn & Partners llp for a term of 5 years for a term of 5 years from 14th July 2020 at a current rent passing of £10,500 per annum (exclusive).

Viewing

By appointment with Sole Agents:

Astleys Chartered Surveyors
Tel: Email: