- 20,503 sqft (1,905 sqm)
- Under Offer
- Offers in excess of £1,500,000
The specification includes;
- Parc Pensarn Retail Park is well located in the Welsh market town Carmarthen and benefits from having a wide catchment area due to limited competition from any major retail centres.
- Easily accessible from the A484 in the prime retail pitch and is situated adjacent to a 60,000 sq ft Morrisons foodstore with petrol station.
- Totals 20,503 sq ft arranged across the 3 units occupied by national retailers; Halfords and Poundstretcher.
- The current income totals £182,350 per annum equating to a low average rent of £8.89 per sq ft.
- Opportunity to increase rent by letting Unit 3.
- Opportunity to add value through regearing or reletting Unit 1 onto a longer lease.
- We are instructed to seek offers in excess of £1,500,000 (One Million and Five Hundred Thousand Pounds), subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 11.43% (assuming purchaser's costs of 6.32%). This reflects a low capital value of £73 psf (below replacement cost).
Cooke & Arkwright for themselves and for the vendor/lessor of this property whose agents they are give notice that: 1. These particulars do not constitute any part of an offer or contract. 2. All statements contained in these particulars are made without responsibility on the part of Cooke & Arkwright for the vendor/lessor and nothing contained in these particulars is to be relied upon as a statement or representation of fact. 3. Any intended purchaser/lessor must satisfy itself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor/lessor does not make or give and neither Cooke & Arkwright nor any person in their employment has any authority to make or give any representation/warranty whatsoever in relation to this property or any services. 5. All terms quoted exclusive of VAT unless otherwise stated. 6. Cooke & Arkwright is a trading name of Cooke & Arkwright Limited.