The Charnwood Group, represented by Savills, has sold the freehold of Units 1 – 7 Charnwood Court, Parc Nantgarw, Cardiff for £3.850 million to Dunedin, reflecting a net initial yield of 9.85%.
Charnwood Court comprises seven, two storey units totalling 35,114 sq ft (3,262 sq m), which are currently let to Velindre NHS Trust, Astutis Ltd and K3 FDS Ltd. The average unexpired lease terms total circa six years and the asset currently generates £401,238 per annum.
Ross Griffin, director of Savills in Cardiff, comments: “Parc Nantgarw is an established, mixed use business park ideally located on the outskirts of Cardiff, attracting a number of leading blue chip companies. This is a strong investment that provided an attractive initial yield, and we are pleased with the success of the sale and price secured for our client.”
Dunedin was represented by JLL.
