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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