24-26 Stepney Street & 2 Vaughan Street, Llanelli

The property comprises a high yielding retail investment occupying a prominent corner pitch on a predestrianised street.

Arranged as two ground floor retail units and associated upper parts, the property is fully let to two tenants and producing a combined gross rent of £27,000 per annum.

24/26 Stepney Street comprises a ground floor and basement unit with ancillary upper parts to the first and second floors. The property is let to Ty Hafan, a long standing tenant of approx 15 years, paying a rent of £20,000 per annum. We understand the tenant does not use the upper parts, and therefore we consider there may be asset management/development potential to these upper parts (subject to lease and any requisite consents).

2 Vaughan Street comprises a ground floor retail unit with ancillary upper parts to the first floor. The property is let to Seren Nails on a lease expiring 13.06.2026 and paying £7,000 per annum. We understand the tenant has relocated locally and therefore consider the property offers asset management potential via re-letting.

The property occupies a prominent corner pitch fronting the pedestrianised Stepney Street and Vaughan Street and forms part of the principal retail amenity in Llanelli. The surrounding area is characterised by a mix of national occupiers, with an entrance to the St Elli Shopping Centre immediately opposite with tenants including Greggs, Vodafone, and Boyes Department Store.