Y Foelas, Station Road, Llanrug, Caernarfon LL55 4BE

Investment Consideration:
Gross Initial Yield: 6.86%
Rental Income: £24,000 p.a.
VAT is NOT applicable to this property
Comprises detached former residential care home (C2) with parking and garage at rear
Redevelopment potential for single/multiple dwellings (C3) or educational/healthcare premises STTP
Located in the popular village of Llanrug, approx. 4 miles from the coastal resort town of Caernarfon with its 13th Century Castle, multiple shopping facilities and beaches.

Property Description:
Comprises substantial detached former residential care home (C2) with large parking and single car garage at rear. The property has been fully refurbished in 2023 and provides the following accommodation and dimensions:
Ground Floor: 214 sq m (2,303 sq ft)
5 bedrooms, kitchen, dining, lounge, conservatory, office, store, bathroom, 3 wc`s
First Floor: 176 sq m (1,894 sq ft)
8 bedrooms, kitchen, lounge, 2 bathrooms, 2 wc`s
Second Floor: 42 sq m (455 sq ft)
2-bedrooms, ancillary, bathroom
Total GIA: 432 sq m (4,652 sq ft)

Tenancy:
The property is at present let to BM Properties MCR Ltd for a term of 10 years from 7th June 2024 at a current rent of £24,000 per annum and the lease contains full repairing and insuring covenants. Rent review in 5th year linked to RPI (£30,000 p.a. Cap). Landlord option to determine at any time with min 90 days notice, subject to a £20,000 penalty.

Location:
Located close to the junction with Tal-Y-Bont in the popular village of Llanrug which is in the foothills of the Snowdonia Mountain Rage, approx. 3 miles from famous Llanberis which is one of the most popular mountain tourist centres in the Snowdonia National Parks. Llanrug also lies approx. 4 miles from the coastal resort town of Caernarfon with its 13th Century Castle, multiple shopping facilities and beaches