Iconic buildings pulled from sale
Historic Lyric site ‘days from going under hammer’
ONE of Carmarthen’s iconic buildings was withdrawn from an auction just days before it was due to go under the hammer.
The grade two listed Lyric Buildings in King Street, which houses five retail units, a nightclub and offices was listed to be sold at a London auction in early December, at a guide price of £700,000 to £750,000 with auction firm Acuitus.
However, Acuitus confirmed that the building was withdrawn from sale before the auction.
ONE of Carmarthen’s iconic buildings was withdrawn from an auction just days before it was due to go under the hammer.
The grade two listed Lyric Buildings in King Street, which houses five retail units, a nightclub and offices was listed to be sold at a London auction in early December, at a guide price of £700,000 to £750,000 with auction firm Acuitus.
However, Acuitus confirmed that the building was withdrawn from sale before the auction, but it is hoped to be up for offer again sometime during the coming year.
A freehold sale would see all existing retailers, Metros nightclub and Mojito bar remain, but under a new overall landlord for the building which heads around from King Street into Queen Street.
Existing shops and firms include hairdresser Morgan Edward, the British Red Cross shop and Jackie James Menswear; as well as nationwide charity Cerebra which has its headquarters on the upper floors in part of the building. The adjacent Lyric Theatre itself is not part of the sale.
Any sale in 2019 would come just four years after a restoration project of the building which boasts a “striking 1930s modernist style” according to the book Lodwick’s History of Carmarthen.
The three-month project in the summer of 2015 saw works to external facias, shop fronts and roofs.
That work was carried out by London-based property and investment specialists M&M Asset Management on behalf of a Luxembourg based firm.
However, it is unclear if the building is still owned by the same firm.
Acuitus said it could not comment on who the current owner of the Lyric buildings was.
The website simply states the property is up for auction “on behalf of a major fund manager”.
On its website Acuitas describes Carmarthen as being “ranked as one of the top retail centres in Wales in 2017”.
Turning to the building itself, the website states: “The building comprises accommodation on basement, ground and three upper floors to provide five retail units, a nightclub and five offices suites.”