The premises are situated in Narberth town centre which is one of the busiest shopping centres in West Wales. It overlooks Market Square meaning that it is one of the first buildings seen when driving into Narberth from the south.
The building comprises a ground floor retail unit, most recently used as a betting office as well as a first floor 3 bedroom flat and rear ground floor 1 bedroom flat, both of which are currently let on AST agreements and therefore income producing.
The premises will therefore be of interest both to investors who might also wish to let the shop as well as retail occupiers who wish to benefit from additional income from the flats.
Narberth is located centrally in Pembrokeshire just off the A40 trunk road from Haverfordwest to Carmarthen and also with a direct road link to South Pembrokeshire with its holiday resorts which include Tenby and Saundersfoot. The town centre is well known for high quality shopping with a wide range of speciality shops, delicatessen etc plus a good range of local shopping. It is therefore popular not only with the local community but also as a focal point for the tourist industry especially during holiday periods.
The premises are available freehold subject to the occupiers of the two flats.
We understand from our client that the 3 bedroom first floor flat is let at £640 /month and the rear 1 bedroom flat at £380 'month, both on a standard AST agreements. The flats therefore generate a gross income in excess of £12,000 per annum.
Offers are invited in the region of £350,000 for the premises with vacant possession of the shop unit and subject to the two tenancies of the flats.
The retail area extends to approximately 617 sq ft (57.34 sq m) to include a staff WC plus a store room to the rear of a further 48 sq ft (4.46 sq m) approximately.
The 3 bedroom first floor along with the ground floor 1 bedroom flat to the rear have access through the surfaced rear yard. This includes a small store and has pedestrian access to the rear lane.
Betting offices fall under Use Class A2 which also includes most office uses as well as it being possible to use the premises for general retail.
The rateable value of the shop is £6,500 which would make the rates payable for the whole of the 2020/2021 financial year approximately £3,477. However, for traders, there are currently no rates payable until 31st March 2021.
Council tax for the flats is paid by the occupiers.
Energy Performance Certificate (EPC)
Copies of the EPCs are available from John Francis Commercial Department. They show that the shop has a rating of C(57) with flat A (ground floor rear) having a rating of D(67) and the first floor flat E(52).
Immediately upon completion of legal formalities.
Viewing & Further Information
Please contact David Cochlin in our Commercial Department on 01834 861810 or via email to firstname.lastname@example.org.