Status: Sold

Terms: For Sale

Price: £8,500,000

Yield: 5.73%

Audi, Wagtail Close, Cardiff Gate Business Park, Cardiff CF23 8RT

  • Purpose built car dealership in a prime location adjacent to Mercedes-Benz
  • Prominently situated fronting the M4 motorway within the established Cardiff Gate Business Park
  • Located within an extensive catchment area which forms a key territory for both the manufacturers and dealer network groups
  • Modern state of the art facility providing a total of 33,647 sq ft
  • Let to the strong covenant of Volkswagen Group United Kingdom Limited with a net worth in excess of £709m
  • 8.3 years unexpired
  • Large site with an extensive motorway frontage
  • Current passing rent of £519,890 per annum, equating to £15.45 per sq ft
  • 5 yearly rent reviews to Open Market Value
  • Freehold
  • We are instructed to seek offers in excess of £8,500,000 (Eight Million, Five Hundred Thousand Pounds), subject to contract and exclusive of VAT.  A purchase at this level reflects a Net Initial Yield of 5.73%, assuming purchaser’s costs of 6.67%.
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