A conversion of the former Cawdor Hotel into investment premises which our clients confirm produced a gross income in excess of £65,500 in 2019 and over £68,500 in 2018 and 2020. The building is prominently located in the centre of the market town of Newcastle Emlyn and comprises a ground floor a restaurant (which we understand has approx. 50 covers under normal trading) with a second ground floor unit selling takeaway food. On the upper floors are 11 self-contained flats of which 9 are one bedroom and 2 are two bedroom.
Located in the north of Carmarthenshire, Newcastle Emlyn is a focal point for the surrounding area in part due to its active cattle market as well as a range of local shopping. The town serves both the local population as well as the busy tourist trade especially in the summer months.
Our clients tell us that the restaurant is let on a 10 year lease from October 2015 at £15,000 pa and the takeaway unit is let on a 20 year lease from March 2016 at £6,384 pa, both to local covenants.
The upper floor flats are all currently let and producing £368/ month or £345 / month depending upon when the letting took place.
Copies of leases for restaurant and take away outlet as well as copy of a standard residential tenancy agreement are available from John Francis.
The premises are available freehold subject to the leases/tenancies.
Interested parties should note to the rear of the building the boundary is10 ft from the building's rear wall.
Offers are invited in the region of £600,000..
Energy Performance Certificate
All of the commercial/residential properties that make up the premises have up to date EPCs. The larger ground floor restaurant is rated at C64 and the smaller take away premises at E121. Nine of the eleven flats have an assessment of E or better but two are assesses at F(38) - Flat 7 and F(27) - Flat 9.
Copies of the EPCs are available from John Francis.
Immediately upon completion of legal formalities.
Please contact David Cochlin in our Commercial Department on 01834 861810 or via email to email@example.com