Piccadilly Arcade, Birmingham
New Street, Birmingham, B2 4EU
23,259 sf
Description
JLL as selling agents are pleased to present 53-57 Queen Street, Cardiff CF10 2AS.
Rare opportunity to acquire a prime freehold retail investment in the heart of Cardiff city centre, benefiting from secure income secured against two established global retailers and recent tenant lease commitments.
Comprising 37,778 sq ft of prominent retail accommodation on Cardiff's premier retailing pitch, the property is fully let to Mountain Warehouse and Holland & Barrett, producing £600,000 per annum, with a WAULT of 9.0 years to expiries.
We are instructed to seek offers in excess of £7,750,000 (Seven Million, Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. This reflects a Net Initial Yield of 7.20%, assuming standard purchaser’s costs.
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Attributes
Building area net
37,778 sf
Occupancy
100%
Year built
2004
Land area gross
37,778 sf
Units
2
WAULT
9 years
Media
Investment highlights
- Freehold
- Prime high street retail investment situated on Queen Street, Cardiff’s principal shopping destination, directly opposite St David’s Dewi Sant Shopping Centre.
- Comprises two well-configured retail units extending to 37,778 sq ft, arranged across ground, first and second floors.
- As the capital city of Wales, Cardiff is one of the UK’s premier cities with an annual footfall in excess of 40 million.
- Let to two established international retailers, Holland & Barrett and Mountain Warehouse.
- Total passing rent of £600,000 per annum, reflecting a low blended rate of £15.88 per sq ft.
- Secure income profile with a WAULT of 9.0 years to lease expiries and 4.5 years to tenant break options.
Contact brokers
53-57 Queen Street, Cardiff (0 Properties)
