Back to track record
- Barclays Bank plc have recently consolidated their occupation in Cardiff
- They have invested an estimated £200,000+ VAT in a new fresh air system in this property and have just extended their occupational lease
- Located in the popular, established and accessible location of Llanishen, approx. 3 miles north of the city centre
- Situated close to Cardiff Business Park and Ty Glas Retail Park
- Nearby occupiers include Morrison’s Supermarket, Bannatynes Health Club, S4C, HMRC, Homebase and local amenities
- Surrounded by a mix of uses including residential
- Occupied by Barclays as a mortgage contact centre
- Good quality 3-storey office building totalling 16,564 ft2 (1,539 sq m) with 60 parking spaces
- Freehold
- Let to the undoubted covenant of Barclays Bank plc until 5 February, 2019 (3.23 years) with a tenant’s break option at 5 February 2018 (2.23 years) subject to 6 months written notice
- Passing rent of £199,000 per annum, reflecting £12.01 per ft2
- Potential for further lease extensions; or claim dilapidations, refurbish and relet; or explore alternate uses (subject to planning)
- Offers are invited in excess of £1,850,000 (One Million Eight Hundred and Fifty Thousand Pounds)
- Assuming purchaser’s costs of 5.8%, this reflects a very attractive Net Initial Yield of 10.17% and a low capital value of £112 per ft2
