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Celtic Springs Day Nursery, Celtic Springs Business Park, Spooner Close, Newport, NP10

For sale: £2,550,000.00|9,200 Sq Ft|Other, Other Property Types & Opportunities

Property details

FOR SALE£2,550,000.00
SIZE9,200 Sq Ft
ADDRESSCeltic Springs Day Nursery, Celtic Springs Business Park, Spooner Close, Newport, NP10
TYPEOther, Other Property Types & Opportunities
TENUREInvestment Opportunity
POSTED ON13th November 2023

Description

Freehold, modern, long let index linked Nursery Investment. - The property is of steel frame construction, originally designed as Grade-A office space but was subsequently utilised as a private children’s day care centre. The property comprises 9,200 sq ft over two storeys, with a floor to ceiling height of 2.75m.


• Freehold, modern, long let index linked Nursery Investment.
• Prominent commercial location on Celtic Springs, Newport’s premier business park, with surrounding occupiers including Airbus, Microsoft, NHS, Welsh Water and Wales & West Utilities.
• Porsche are currently relocating to a new, state of the art location on Celtic Springs Business Park. Their new facility will be home to over 100 employees.
• Well located in a prominent location off Junction 28 of the M4 Motorway. 3.4 miles from Newport City Centre on the arterial route between the city and Cardiff (immediately to the west). This is a popular commuter route and ideal location for the facility.
• 9,200 sq ft of modern flexible accommodation originally designed as a Grade A office.
• Newport forms part of the Cardiff Capital Region with a population of 1.5m.
• Let to The Dean Close Foundation on a new 20-year lease from 1st February 2023 with no Tenant break option.
• 5 yearly RPI rent reviews, capped at 5% and collar at 2% - compounded annually.

Seeking offers in excess of £2,550,000 (Two Million, Five Hundred and Fifty Thousand Pounds) reflecting an attractive Net Initial Yield of 5.50%, after deducting purchaser’s costs of 6.96%.

Location

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Location: Celtic Springs Day Nursery, Celtic Springs Business Park, Spooner Close, Newport, NP10

Newport (S. Wales) (2.9 miles)

Lisvane & Thornhill (6.3 miles)

Llanishen (6.3 miles)

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