ADDRESSThe Pavilions, Llantarnam Park, Cwmbran, Torfaen, NP44, Llantarnam Park, Cwmbran, NP44 3FD
TYPEBusiness Park, Office, Offices
POSTED ON8th March 2021
Multi-let, High-Yielding, Modern Business Park Investment with Strong Tenant Contentment. - - Freehold. - Located in Llantarnam Park, Cwmbran, one of the most prestigious commercial locations on the M4 corridor. - Strategically located just under 3 miles north of Junctions 25, 25A and 26 of the M4 motorway. - The property comprises 6 modern, BREEAM Excellent, detached Grade A office units totalling 31,120 sq ft within an attractively landscaped, secure campus environment. - Exceptional car parking ratio of 1:149 sq ft occupied and puts the Pavilions at a significant advantage over competing office parks. - Large site of 6.7 acres (2.7 hectares) with a low site cover of 4.6%. - Current rent of £405,400 per annum. This equates to a low £12.50 per sq ft on the office element with strong prospects for future rental growth and additional car parking licence income. - Multi-let to 4 Tenants providing a 93% occupancy rate with an opportunity to let the remaining vacant suite and create a reversion. - WAULT of 2.05 years to lease expiries with a strong occupational backdrop as 78.2% of income was subject to non-exercised break options within the last 12 months. - Quoting capital value at a low £135 per sq ft is significantly below replacement cost and provides ample headroom to secure individual unit sales to owner occupiers.