ADDRESSBryn House & Brecon House, Van Road, Caerphilly Business Park, Caerphilly, CF83, Van Road, Caerphilly, CF83 3GG
TYPEBusiness Park, Office, Offices
POSTED ON28th October 2020
Fully-let Business Park Investment with Fixed Rental Uplift.
High Yielding, Low Capital Value Reversionary Business Park with 7.37 Years Term Certain. - - Freehold.
- Located in Caerphilly Business Park, a highly sought after and fundamentally strong location just 3 miles from the M4 motorway and 3.5 miles from north Cardiff.
- The property comprises two high quality Grade A office units totalling 41,642 sq ft of approximately 20,000 sq ft each with flexible accommodation suitable for subdivision and multi-occupancy.
- The situation provides immediate access to Junction 32 of the M4 and the A470; the main spine road running from north to south Wales. The Junction 32 / A470 intersection is regarded as the most important section of road infrastructure in Wales.
- Current rent of £468,000 per annum. This equates to a low rent of £11.24 per sq ft and is extremely competitive compared to competing Cardiff M4 office parks and provides a strong base for future rental growth, with a fixed rental uplift on part.
- Let to good covenants with a WAULT of 7.37 years to expiries (no break options) with both tenants having either recently renewed their lease or removed a break option demonstrating their commitment to the location.
- Link Financial and Creditsafe provide FAME Credit Ratings of 97% and 99% respectively, both are at the maximum end of the 'Secure' ratings scale.
- The capital value at £117 per sq ft is significantly below replacement cost and underpinned by vacant possession values.