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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.
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton April 2025
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