1 November 2023: Wednesday 01 November 2023 - 9:00am
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Floorplan
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    Key features

    • High Yielding Retail Investment
    • Let to William HIll
    • New 15 Year Lease
    • Producing £15,100 per annum
    • CPI Linked Rent Reviews (cap & collar 5%-10%)
    • Popular and Prominent Location
    • Guide Price Reflects 12% Gross Yield
    • No VAT

    Description

    The property comprises a prominent, high yielding, retail investment let to William Hill. The upper parts are sold off on a long leasehold basis.

    Comprising a double fronted retail unit of approximately 2,090 sq ft (194.17sq m), the property occupies a prominent position in the centre of Llangefni High Street, with nearby occupiers including Boots, HSBC and SPAR. The Canolfan y Ffowndri shopping centre is also nearby which includes a number of local retailers.

    The property is let to William Hill on a new 15 year lease, the lease is on FR&I terms and produces a rent of £15,000 per annum and provides for CPI linked rent reviews every 5th year with a cap and collar of 5%-10%. The upper parts comprise two residential units which are both sold off on a long leasehold basis and produce a combined ground rent of £100 per annum.

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is let to William Hill Organization Limited on a new 15 year lease on FR&I terms and producing a rent of £15,000 per annum. The lease includes CPI linked rent reviews every 5th year with a cap and collar of 5%-10%. There are tenant break clauses every three years.


    The upper parts comprise two residential units which are both sold off on a long leasehold basis and produce a combined ground rent of £100 per annum.

    The 1st and second floors are subject to a lease of 125 years from 11/2/2020 at a ground rent of £50 pa.

    The third floor is subject to a lease of 125 years from 28/11/2018 at a ground rent of £50 pa.

    Rent

    £15,100 per annum

    Notes

    Please note Savills Auctions have not inspected the property. Any drawings, plans, areas and photographs are for illustrative purposes only and purchasers should rely on their own enquiries.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property occupies a prominent mid parade position along the High Street in Llangefni. Llangefni is the county town of Anglesey in Wales and In close proximity to the A55 North Wales Expressway (Junction 6), linking Holyhead to Bangor, Chester and the M53 Motorway.

      The property is situated on the north side of the High Street between its junctions with Field Street and Church Street Occupiers close by include SPAR, Boots, HSBC and Betfred.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums