A unique opportunity located in the prime office core of the capital city of Wales. Property is a modern, multi-tenanted office building situated in the heart of Cardiff city centre. Impressive roster of global office occupiers including HSBC, Barclays, Deloitte and AECOM. 100% of the income is from tenants rated ‘A’ by CreditSafe. Modern Grade A office building totalling 53,536 sq ft arranged over seven floors. Flexible floor plates lend themselves to the market average deal size of 3,000 sq ft to 4,000 sq ft. Three unoccupied suites are currently under offer. These will set a new headline rent of £26.00 psf. Multi-let to nine tenants providing a total income of £1,152,287 pa (topped up), equating to a low average passing rent of £21.90 psf with an additional £18,550 pa from parking spaces. Prime rents in Cardiff are now achieving £25.00 psf with potential to reach £30.00 psf by the end of 2023. WAULT of 3.9 years to expiry and 2.0 years to break. 31 parking spaces reflecting an exceptional city centre ratio of 1:1,697 sq ft.
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