Two semi-detached adjoining properties in central Cardiff have been added to Cardiff University’s portfolio of buildings with Lambert Smith Hampton (LSH) handling the terms of the deals simultaneously.
Acting on behalf of the University’s Estates Department, the national commercial property consultancy has negotiated five year lease terms at 52 and 53 The Parade, close to Newport Road on the eastern approach into the city centre.
Both properties are to be used as office accommodation for researchers from the University’s School of Engineering and School of Physics and Astronomy.
Fletcher Morgan acted for the owners of number 52 which is a 2,928 sq ft two storey property offering open plan office space that retains many of its original period features. Cooke and Arkwright acted for the owners of number 53 which takes up a corner position of The Parade and West Grove. The 4,200 sq ft building has undergone a bespoke fit out to provide attractive, spacious accommodation earning it Grade A status.
Kate Simpson, Associate Director at LSH’s agency team, says: “Our knowledge and understanding of the Cardiff commercial property market meant that we could acquire both buildings on attractive terms for the University which is so pivotal to the city and its success. It was a pleasure to represent them.”
“The two properties should make a positive addition to the University’s property portfolio and is a good example of how investment in refurbishment, and in this case extension, of older properties is beneficial for landlords as it helps satisfy the demands of occupiers,” adds Tim Lawley of Cooke and Arkwright “and we’re confident 53 The Parade will meet the University’s needs perfectly as the building combines period features with a contemporary, light and functional interior which enhances the space considerably.”
Rhodri Roberts of Fletcher Morgan says of 52 The Parade: “This property provides excellent quality accommodation with many of the original features retained and we are delighted with this letting to Cardiff University.”
Comments Jim Atkinson of Cardiff University’s Estates Division: “Both of these buildings are welcome additions to the estates portfolio and help support the University’s overall strategy of providing quality facilities for our students and staff.”