Acting on behalf of an in-house client of developer and asset manager Chancerygate, Fletcher Morgan has sold an A3/leisure investment to OJ Group.
The 9,649 sq ft leisure investment provides an income of £154,000 pa and is home to Stonegate Pub Company and Fantasy Lounge.
The property occupies a prominent position in the main central core of the city centre’s nightlife on St Mary Street.
Matthew Jones, Director at Fletcher Morgan, said “We are delighted to have successfully sold this well known leisure investment. The building is multi-let to quality tenants with long term rental income. We are experiencing increased levels of investor interest for similar opportunities in this prime Cardiff city centre A3 location.”
Chancerygate asset manager, Luke Morley, added: “This property has proven to be an excellent leisure asset for our client, and we have every expectation that it will continue to be so for the OJ Group.
“We are very pleased to have worked with Fletcher Morgan to secure a strong sale price for the property which is indicative of the strong demand for leisure assets in Cardiff city centre.”