Investment Properties: Barclays House, Ty Glas Avenue, Llanishen, Cardiff CF14 5DX

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Barclays House, Ty Glas Avenue, Llanishen, Cardiff CF14 5DX

OIEO £1,850,000 subject to contract - Freehold

  • 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