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Global Reach, Celtic Gateway Business Park, Celtic Gateway Business Park, CF11 0SN

For sale: £9,326,000.00|61641 Sq Ft|Office, Offices

PROPERTY DETAILS

FOR SALE£9,326,000.00
SIZE61641 Sq Ft
ADDRESSGlobal Reach, Celtic Gateway Business Park, Celtic Gateway Business Park, Cardiff, CF11 0SN
TYPEOffice, Offices
TENUREInvestment Opportunity, Under Offer
POSTED ON23rd September 2020

DESCRIPTION

Modern Multi-Let Grade A Reversionary Freehold Office Investment - - Opportunity to acquire a modern, Grade A office building in a Core UK City.

- Cardiff is Wales’ capital city and the closest European capital city to London and one of the top tier regional centres in the UK.

- Cardiff is a business, retail, leisure and Government hub and as such the powerhouse of the Welsh economy.

- Located in Celtic Gateway Business Park which benefits from excellent transport links and sits within a vibrant commercial and residential area adjacent to the Cardiff International Sports Village.

- Situated on a prominent site adjacent to the A4232 and A4055 within 5 minutes’ drive of the city centre and Cardiff Bay, as well as Junction 33 of the M4 Motorway.

- 61,641 sq ft (5,726.59 sq m) Grade A headquarter style office building with flexible, open plan floor plates.

- Fully occupied, multi-let offices with a current rent of £802,591 per annum reflecting a low average rent of £13.02 per sq ft.

- The rental tone is significantly lower than competing Grade A buildings in the market.

- Recent lettings at £15.75 per sq ft and £13.50 per sq ft within the building crystallises the significant reversionary potential and opportunity to add value.

- Let to a diverse range of occupiers with a Weighted Average Unexpired Lease Term of 5.25 years (4.03 years to breaks).

- 100% of income secured against ‘low risk’ covenants with over 52% let to 5A1 D&B covenants.

- Numerous opportunities for proactive asset management with clear reversionary potential.

- Institutional investors with holdings in the immediate area include Railpen, Nuveen, British Steel, Aviva, BA Pension Fund and Schroders.

LOCATION

Location: Global Reach, Celtic Gateway Business Park, Celtic Gateway Business Park, Cardiff, CF11 0SN

Cogan (0.5 miles)

Dingle Road (1.0 miles)

Grangetown (1.0 miles)

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