The freehold interest of 18 – 18D High Street, Llandaff has been acquired in an off-market transaction in May 2021 for in excess of £1.2m.
Located within the historic city of Llandaff and situated within a conservation area, the parade is well positioned to service the local community. The parade comprises 4 ground floor retail units let on long term leases to a mix of national and local occupiers including Spar, Llandaff Pharmacy, Hair Flair and John Williams Land & Estate Agents.
The property provides 5,149 sq ft of total ground floor retail space, producing a gross income of approximately £90,000 per annum. The first floors had historic planning permission for 9 apartments, offering excellent redevelopment potential to provide high-quality residential accommodation combined with private rear car parking or provide refurbished offices for what will be a good location in amongst local amenities.
David Williams of Emanuel Jones who acted on behalf of the purchaser commented: “Our client sees this as a long-term investment in what is a sought-after suburb of Cardiff while there is also development potential on the upper floors with a variety of options.”
Dan Griffiths and Phil Gwyther of EJ Hales who acted for the vendor comments: “Delighted to have concluded a sale for our client who was the original developer of the property in what is a challenging commercial property market.”