Description

The property comprises two buildings providing office accommodation, arranged as a terrace of three units (A-C) together with a detached, standalone Unit D. The buildings are of steel-frame construction with brick elevations beneath pitched roofs.

Each building provides modern office accommodation over ground and first floors, with separate communal areas and a common stair and entrance. The offices are predominantly open plan, with minor lightweight partitioned offices and meeting rooms. The units benefit from double-glazed windows, raised carpeted flooring and suspended ceilings, gas fired central heating and electric comfort cooling.

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Attributes

Building area net

1,831 m²

Occupancy

100%

Number of buildings

Asking price

₹302,013,000

Media

Investment Highlights

Well-located, multi-let office investment arranged as four self-contained units (A-D) across two buildings on Cardiff Gate Business Park, the city's prime out-ot-town office location.
Prominent business park position immediately adjacent to Junction 30 of the M4 motorway, around seven miles north-east of Cardiff city centre.
Total net internal area of approximately 19,712 sq ft over ground and first floors, with generous on-site car parking.
Let to a diverse line-up of tenants - Health Economics & Outcomes Reasearch, NorDan UK, CCS McLays, and APCymru.
Marketing rent of £253,758 per annum at a low average rent of £12.87 per sq ft, offering clear reversionary potential.
12-month rent guarantee on the two vacant first-floor suites (3,643 sq ft - Units B & D) at £14.00 per sq ft, to include business rates, insurance, and service charge.
Freehold

We are instructed to seek offers in the region of £2.36m (Two Million Three Hundred and Sixty Thousand Pounds), subject to contract and exclusive of VAT, for the freehold interest. A purchase at this level would reflect a net initial yield of 10.06% (assuming purchaser's costs of 6.86%) and a low capital value of £120 per sq ft.