23 Red Street, Carmarthen, Dyfed, SA31 1QL

Description

A Ground Floor Commercial Unit Fully Let to Hutchinson 3G UK Limited Producing £25,000 Per Annum. The property comprises a ground floor commercial unit situated in a corner unit within a mixed use parade arranged over ground and first floors.

Accommodation

Ground Floor Commercial Unit. G.I.A Approximately 103 sq m.

Location

The property is situated on a pedestrianised road in Camarthen city centre close to local shops and amenities. Nearby multiples include Barclays Bank, Greggs and Marks & Spencer. The open spaces of Camarthen Park are within easy reach. Transport links are provided by Camarthen rail station.

Tenure / Property Information

Investment Analysis

The unit is fully let to Hutchinson 3G UK Limited at a stated £25,000 per annum. At the £90,000 guide, this represents an indicated gross income yield of 27.8%, before costs and assuming the stated rent is current and collectible. The two supplied comparables are leasehold flats at the same address and are not sufficiently comparable to value this commercial unit. No commercial valuation evidence, market rent, lease terms beyond the term, rent review details or capitalisation rate is supplied, so GDV cannot be established. The lease has approximately 81 years unexpired, which is a material valuation consideration.

Investment Snapshot

Strategy Recommendation

Consider only as an income-led commercial leasehold purchase after verifying the rent, lease obligations, tenant covenant, rent reviews, remaining term and all legal-pack costs. Do not rely on a flip or refinance strategy without further valuation evidence.

Works Required

No refurbishment works or defects are evidenced. Allow for inspection, lease and legal-pack review only; any physical works remain unsupported by the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR/refinance assessment cannot be completed because no supported GDV, commercial lending terms, capitalisation rate or refurbishment budget is provided. The approximately 81-year unexpired lease and fully let status require detailed lender and legal review before relying on refinancing.

Buy-to-Let Analysis

This is a commercial investment rather than a residential BTL. The stated passing income is £25,000 per annum, equivalent to £2,083.33 per month, and gives 27.8% gross yield against the £90,000 guide. This excludes the £1,800 administration charge, any disbursements, purchaser costs, finance, insurance, maintenance, voids and tax. The evidence does not confirm lease expiry, repairing obligations, rent reviews, break rights or tenant covenant strength.

Flip Analysis

A flip appraisal cannot be supported. No commercial resale valuation, comparable commercial sales, selling costs or works budget is supplied. The residential comparables provided are not suitable evidence for this ground-floor retail unit.

Investor Risks & Due Diligence

• Approximately 81 years remain on the lease, which may affect value, lender appetite and eventual saleability.

• The £25,000 annual income is stated but the evidence does not confirm rent collection, lease expiry, rent reviews, break options or repairing obligations.

• The commercial comparables supplied are leasehold flats and are not reliable valuation evidence for this retail unit.

• Disbursements and other charges may be payable under the legal pack and special conditions.

• The high indicated gross yield is based only on the guide price and stated rent and excludes operating, transaction, finance and tax costs.

Recommendation

Consider only as an income-led commercial leasehold purchase after verifying the rent, lease obligations, tenant covenant, rent reviews, remaining term and all legal-pack costs. Do not rely on a flip or refinance strategy without further valuation evidence.

Strategy Rating

Analysis Confidence

The stated rent, guide price, tenure, lease term and administration charge are available, but there is no commercial valuation, market-rent evidence, condition report, EPC, full lease information, purchaser-cost schedule or finance evidence.