Property Address: Llanelli, Carmarthenshire, SA15 

Property Description: A spacious three-storey terraced property in the centre of Llanelli town. The property benefits from multiple exit strategies including 1) Flip as 4-bed house, 2) Convert to 2x apartments for high cash flow or 3) Retain and renovate as 1x apartment and 1x commercial let. Source My Property has completed and renovated properties on this very street with great success in achieving the desired end value. Due to this property being a mixed-use at present, commercial and residential, planning content for changes would be relatively simple. 

The property has painted stucco rendered solid stone/brick walls beneath pitched replacement concrete tiled roofing, part timber/ aluminium/ UPVC windows and doors and gas central heating. The property also benefits from off-street parking to the front. It has a large garage in the rear which would need to be demolished and make way for a garden or further parking. Depending on your exit choice.

This commercial to residential (or mixed-use) property has four bedrooms, four reception rooms and a bathroom within much sort after 2 car parking spaces in the front and double garage with spaces for up to 4 vehicles at the back that can be accessed from a lane via Station Road.

The layout of the property briefly comprises: Entrance door, Hallway, open plan living room, dining room (currently used as office space), there are two good sized bedrooms spread across the second floor, a box room/ home office and a hallway. From this hallway, there are stairs leading to the four bedrooms on the first floor. The basement has the toilet and other storage rooms.

Once fully refurbished, it would be suited for a large 4 bedroom residential property or open planned office on the ground floor with additional basement storage area with back door access to the four vehicle parking space at the rear. The first floor would be converted into a two-bedroom apartment with parking for two vehicles at the front of the property on Murray Street. Or separately, planning for 2x 2bedroom apartments is also easily achievable.

In refurbishing this property to the suggested schedule of works (SOW) it would allow the investor(s) to achieve a good return from the identified and fully costed exit strategies e.g. buy, refurb and lease/ rent out (see list below).

The property is within 1-mile driving distance of the local amenities of Llanelli, including shops like Asda Superstore and petrol station, Home Bargains, Morrisons, Tesco etc; Schools: infant, primary and secondary education, Doctor and Dental surgeries, Leisure centre and a Golf course, access to road networks and train station.

Llanelli is positioned within 25 minutes of the Swansea and is about 15 miles distant from the county town of Carmarthen. The lovely countryside of the Carmarthenshire Coastal National Park is accessible via the coastal path, and there are many beautiful beaches within driving distance.

Services: We are advised that Mains Gas, Electricity and Drainage are connected. And Gas-fired Hot water system.

Number of Bedrooms (current): 4

Is there potential to add a bedroom?:  Yes

Reception Rooms: 4

Bathrooms/shower-rooms: 1

Property Asking Price: £105,000

Agreed Sale Price: £85,000

Fair Market Value (DUV): £165,000 to £185,000

Comparable 1: 26 College Hill, SA15 1EN. £175,000. Sold on 30/10/20.  https://www.zoopla.co.uk/property/26-college-hill/llanelli/sa15-1en/20707042

Comparable 2: 92 Marble Hall Road, SA15 1NH. £177,000. Sold on 21/02/20. https://www.zoopla.co.uk/property/92-marble-hall-road/llanelli/sa15-1nh/20708577

Comparable 3: 9 Colehill Terrace, SA15 3BT. £185,000. 25/11/19.  https://www.zoopla.co.uk/property/9-coleshill-terrace/llanelli/sa15-3bt/20714546

If no comparables, please state why there are no direct comparables: On the market
1.  https://www.zoopla.co.uk/for-sale/details/57191559

2.  https://www.zoopla.co.uk/for-sale/details/57143214

3.  https://www.zoopla.co.uk/for-sale/details/56973275

4.  https://www.zoopla.co.uk/for-sale/details/56938496

5.  https://www.zoopla.co.uk/for-sale/details/56766856?search_identifier=dd2cff98b64b235a01180d710d0e9f0e

Market Status: on the market

Why is the property being sold?: Unknown

Is the property in a lettable condition: No

Is the sale price negotiable?: No

Property Type: Commercial/Mixed use

Freehold or Leasehold: Freehold

Is the property part of portfolio?: No

Exit Strategy 1: Mini Development (apartment conversion etc)

Exit Strategy 2: BTL Apartment and Commercial Unit

Exit Strategy 3: BTL 2x Apartments

If HMO strategy please select: N/A

Potential Target Demographic: 4 bedroom house for families. Apartments for first-time buyers and smaller families. Commercial businesses for letting. 

Refurbishments Required: 

Schedule of works (SOW)
4 Bedroom House

Part ONE -
1. Planning application for change of use.  

Part TWO
1. Rip out (including back garage demolishing

2. Stud and board new house layout 

3. First fix: including re-wiring, lighting especially at the basement area of the property

4. First fix: check rendering, repair if required?

5. First fix: check for damp, damp course treatment if required

6. Second fix; New bathrooms

7. Second fix; New kitchens including storage, extractor hood, tiling, linoleum flooring etc.

8. Second fix: New boilers, radiators etc

9. Second fix: plaster boarding and skimming.

10. Second fix: woodworks, 

11. Second fix: painting internal and external

12. Second fix: flooring

13. Second fix: Kerb appeal and numbering.

14. Snags and certification 

15. Parking at the front and garden to the rear.

Estimated Refurbishment Costs: £50,000

Schedule of works (SOW)
1x Commercial Unit and 1x 2 Bedroom apartment

Part ONE -
1. Planning application for change of use.  

Part TWO
1. Rip out (including back garage demolishing

2. Separate Gas, Electric and water supplies.  

3. Stud and board new apartment and commercial layout 

4. Fire control separation and measures including; Sprinkler system

5. Soundproofing between the ground and 1st floor.

6. First fix: including re-wiring, lighting especially at the basement area of the property

7. First fix: check to render, repair if required?

8. First fix: check for damp, damp course treatment if required

9. Second fix; New bathrooms

10. Second fix; New kitchens including storage, extractor hood, tiling, linoleum flooring etc.

11. Second fix: New boilers, radiators etc

12. Second fix: plaster boarding and skimming.

13. Second fix: woodworks, 

14. Second fix: painting internal and external

15. Second fix: flooring

16. Second fix: Kerb appeal and numbering.

17. Snags and certification 

18. Parking at the front and garden to the rear.

Estimated Refurbishment Costs: £60,000

Schedule of works (SOW)
2x 2 bedroom apartments

Part ONE -
1. Planning application for change of use.  

Part TWO
1. Rip out (including back garage demolishing

2. Separate Gas, Electric and water supplies.  

3. Stud and board new2x  apartment layout 

4. Fire control separation and measures including; Sprinkler system

5. Soundproofing between the ground and 1st floor.

6. First fix: including re-wiring, lighting especially at the basement area of the property

7. First fix: check to render, repair if required?

8. First fix: check for damp, damp course treatment if required

9. Second fix; New bathrooms

10. Second fix; New kitchens including storage, extractor hood, tiling, linoleum flooring etc.

11. Second fix: New boilers, radiators etc

12. Second fix: plaster boarding and skimming.

13. Second fix: woodworks, 

14. Second fix: painting internal and external

15. Second fix: flooring

16. Second fix: Kerb appeal and numbering.

17. Snags and certification 

18. Parking at the front and garden to the rear.

Estimated Refurbishment Costs: £65,000

4 Bed House Flip Figures - 

Purchase Price: £85,000

Refurb Costs: £50,000

Entry Legal Costs: £1,200

Exit Legal Costs: £1,200

Stamp Duty: £2,550

Survey Costs & Professional Fees: £3500

Broker Fee: £400

SMP Consultation Fee: £2997

Estimated 6 months bills costs: £1500

Estate Agent Selling Fees: £1,995

Total Estimated Costs for an investor: £83,397 (Based on 75% LTV)

Re-sale price (DUV): Up to £175,000. High-quality renovations can easily exceed this figure. 

Estimated Flip Profit: £23,700

4 bedroom house BTL Figures: 

Purchase Price: £85,000

Refurb Costs: £50,000

Legal Costs: £1,200

Stamp Duty: £2,550

Survey and professional fees: £3500

Broker Fee: £400

SMP Consultation Fee's: £2.997

Estimated Rental Income: £800

New Mortgage: £382.81

Stress Test Mortgage: £640

Estate Agent Rates: £80

MOE: £80

Cash Flow Most Likely: £257

Cash Flow Stress Test: £93

1x 2 bedroom apartment and 1x commercial BTL Figures: 

Purchase Price: £85,000

Refurb Costs: £60,000

Legal Costs: £1,200

Stamp Duty: £2,550

Survey and professional fees: £3500

Broker Fee: £400

SMP Consultation Fee's: £2.997

Estimated Rental Income: £1000 (£475 for apartment and £525 for commercial)

New Mortgage: £360 (Based on DUV of £165,000; 2 bedroom apartment £85,000 and commercial unit £80,000)

Stress Test Mortgage: £515

Estate Agent Rates: £100

MOE: £100

Cash Flow Most Likely: £439

Cash Flow Stress Test: £284

2x 2 bedroom apartment BTL Figures: 

Purchase Price: £85,000

Refurb Costs: £65,000

Legal Costs: £1,200

Stamp Duty: £2,550

Survey and professional fees: £3500

Broker Fee: £400

SMP Consultation Fee's: £2.997

Estimated Rental Income: £1000

New Mortgage: £360 (Based on DUV of £165,000; 2 bedroom apartment £85,000 and £80,000)

Stress Test Mortgage: £515

Estate Agent Rates: £100

MOE: £100

Cash Flow Most Likely: £439

Cash Flow Stress Test: £284

Area Description: 

Llanelli is the largest town in both the County of Carmarthenshire and the preserved County of Dyfed, Wales. It is located by the Loughor estuary on the West Wales coast approximately 10 miles (16km) west-northwest of Swansea and about 12 miles (16 km) south-east of the county town of Carmarthen.

Llanelli (named after the Saint Nelli) has a population of about 35,000 and home to Welsh Rugby club Scarlets which has a recently developed 14,000 capacity stadium.

It is also famous a centre of tinplate production with Tata Steel Europe. The Technium Performance Engineering Centre was developed at Llanelli Gate as a business incubator for businesses in the automotive, motorsport and aerospace sectors. Also, it’s home of the household name beer Felinfoel Brewery.

Also nearby are:
1. Vista Lounge, Castle Buildings, Murray Street, Carmarthenshire, SA15 1AQ. For great cocktails, proper coffee, light lunches etc. (vista-lounge.co.uk). or 01554 773 711

2. Halifax Bank 24 - 26 Cowell Street, Carmarthenshire, SA15 1UW. 03456 003 934

3. St. Elli Shopping Centre
Everything you need under one roof. There are 1,568 car parking spaces within easy reach of this shopping centre which includes disabled and parent & toddler spaces.

4. Parc Howard Museum and Art Gallery are housed within a 19th century Italianate country house, situated in 24 acres of parkland north of the town centre. In the park there is a pond to the south and 
sunken garden to the west, the park also has a bowling greens, tennis courts, children’s play area and paddling pool.

5. Machynys Golf and Country Club (A senior open qualifying venue 2017, presented by Rolex).  
A modern links championship golf course, Machynys Peninsula has been designed to challenge the best players in championship conditions and yet still be enjoyable for the higher handicapper, 
by utilising up to five tees by hole.

6. Llanelli Market - opened to general public daily and also has on this site’s public toilet facilities. There’s a real buzz about Llanelli market. It’s bursting with character and is full of those lovely sounds and  
smells associated with traditional market halls of a golden era. A busy, happy environment, packed with stalls run by more than 50 family-run businesses.

7. Schools/ nursery
Maes Y Morfa Primary school. 01554 772 945

Copperworks Infant Nursery 01554 758 837

Childsplay Nursery 01554 777 936

St. Marys R C Primary School 01554 759 178

St. Michael’s School 01554 820 325

8. Police station, Waunlanyyrafon, Llanelli, Carmarthenshire, SA15 3AD.

9. Fire Station, Corporation Avenue, Llanelli Carmarthenshire, SA15 3PF.

10. Hospital, Bryngwyn, Dafen, Llanelli, Carmarthenshire SA14 8QF.

11. Millennium Coastal Park, Burry Port Harbour  
A 22 kilometres coastline along the northern shore of the Loughor Estuary has been transformed into a unique array of tourist attractions, wildlife habitats and leisure.

12. Llanelly House is the heartbeat of Llanelli. It reflects the triumphs and tribulations of the town, embracing the rich industrial past and sparking prosperity.

13. Selwyn Samuel Centre
This houses a six-rink indoor bowling green with restaurant and bar facilities. It is utilised for a range of activities including concerts, seminars and exhibitions.

Nearest Train Station: Llanelli (within 5 minutes drive)

Any key journey times: Swansea within 25 minutes and the County Town of Carmarthen is about 15 miles.

Cardiff is about 1 hour and 10 minutes (54.5 miles) via the M4 and longer if travelled via A48 or A465 and A470.