17-18 High Street, Cardigan, Dyfed, SA43 1JJ

Description

A Substantial End of Terrace Commercial Building in a Prominent Town Centre Location arranged over Ground, First & Second Floors. Asset Management & Residential Conversion Potential (Subject to Obtaining all Relevant Consents). Offered with Vacant Possession. Recent passing rent of £40,000 per annum

Accommodation

Ground Floor: Retail Area, G.I.A. approx. 3,877 sq ft. First Floor: Offices and Ancillary Space, G.I.A. approx. 1,163 sq ft. Second Floor: Ancillary Space, G.I.A. approx. 1,115 sq ft. Total G.I.A. approx. 6,155 sq ft.

Location

The property occupies a prominent trading position on the east side of High Street, the main commercial and retail thoroughfare in Cardigan town centre. Nearby occupiers include a mix of national retailers and established local independent businesses.

Tenure / Property Information

Investment Analysis

The property is a substantial 6,155 sq ft freehold commercial building in Cardigan town centre. The nearest supplied comparable is 14 High Street at £180,000 in March 2026, but its size, condition and use are not provided. Older High Street sales range from £200,000 to £430,000, but dates and property descriptions differ materially. No sufficiently specific rental comparables, current valuation evidence or conversion valuation is supplied, so a reliable GDV cannot be established. The stated £40,000 per annum is recent passing rent, not evidence of achievable rent after vacancy.

Investment Snapshot

Strategy Recommendation

Treat as a commercial value-add or conversion opportunity requiring valuation, condition, planning and rental due diligence before bidding. Do not rely on the historic £40,000 rent as a current income assumption.

Works Required

No specific defects or required works are evidenced. Any works assessment should await inspection and legal/technical due diligence. Residential conversion is mentioned only as potential and would require all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten from the supplied evidence. There is no supported current GDV, refurbishment budget, residential layout, planning position, achievable residential rent or refinance valuation. Conversion potential is expressly subject to obtaining relevant consents.

Buy-to-Let Analysis

The recent passing rent of £40,000 per annum equates to 14.55% gross on the £275,000 guide price, before costs. However, the property is offered with vacant possession after the stated lease expiry of 1 October 2026, and no current rental comparables or auctioneer rent estimate are supplied. The historical yield therefore cannot be treated as a sustainable current BTL yield.

Flip Analysis

A flip appraisal cannot be reliably calculated. Although nearby sales provide broad context, they do not establish the subject property's current commercial value or any residential conversion GDV. Works, professional costs, finance costs, selling costs and planning outcomes are also unsupported.

Investor Risks & Due Diligence

• Vacant possession means the stated £40,000 annual rent may not continue after 1 October 2026.

• No sufficiently specific current rental comparables or auctioneer rent estimate is supplied.

• Residential conversion potential is subject to obtaining all relevant consents.

• The supplied comparable sales vary significantly in date, description and price and do not establish a reliable current valuation.

• Additional disbursements, seller costs, legal fees, search fees or transfer fees may be payable under the legal pack and special conditions.

• No condition, EPC, heating or parking information is supplied.

Recommendation

Treat as a commercial value-add or conversion opportunity requiring valuation, condition, planning and rental due diligence before bidding. Do not rely on the historic £40,000 rent as a current income assumption.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, floor areas, guide price, historic passing rent and nearby sales, but lacks current rental evidence, condition, EPC, planning information, conversion layouts, GDV, works costs and complete purchaser costs.