Cardiff Garden Centre, Blue Diamond

A48, Saint Mellons, South Glamorgan, CF3 2WJ, UK

Description

The property comprises a modern purpose built garden centre development, that was extensively re-constructed in 2015. The centre is on a self-contained site and includes external sales and storage areas, ancillary buildings, large car park and circulation roadways. The main building of the centre is a single storey framed inter-connecting warehouse of steel portal frame, beneath composite sandwich panels. Cardiff Garden Centre benefits from a significant tarmacadam car park to the front of the centre, which is accessed directly off the A48. The centre further benefits from a large service yard and outdoor stock area to the rear.

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Attributes

Building area net

57,956 sf

Occupancy

100%

Year built

2015

Media

Investment Highlights

Opportunity to acquire the best trading garden centre in Wales and one of the top in the UK (by turnover), let to the UK's leading operator, Blue Diamond
Located in the city of Cardiff, Wales, approximately 7 miles east of Cardiff city centre, 7.5 miles west of Newport and 37 miles west of Bristol
The 57,956 sq ft garden centre is fully let to Blue Diamond, with a long unexpired term of 19.7 years (without break), guaranteed by Blue Diamond Ltd
Total passing rent of £689,390 per annum (£11.90 per sq ft), reviewed 5-yearly by way of fixed 2.50% increases (pac). The next review is in August 2027 with the rent forecast to increase to £779,982 per annum
Large, prominent freehold site of 8.29-acres, immediately adjacent to the A48(M). This adjoins the M4, 3 miles to the north, connecting Cardiff in the west and Newport in the east
Number one trading centre in Wales and 43rd in the UK by turnover (2023). The centre has an exceptionally strong and proven Rent Cover of 3.21x with record week-on-week performance
Constructed in 2015, the asset is a modern best-in-class centre with leading environmental credential's, including an EPC of B 41
Strong alternative use potential, given the asset benefits from a significant population of 374,000 within a 15-minute and 587,000 within a 20-minute drivetimes