POWELL LLOYD - RECENT TRANSACTIONS
Powell Lloyd continue to source exciting investment opportunities on behalf of our clients.
Below are some recent examples of these.
Former Western Mail Printworks, Pacific Road, Cardiff, CF24 5HJ
A vacant industrial unit purchased on behalf of a private client.
- Freehold
- Located just south of Cardiff City Centre
- 44,117 sq ft (4,098.7 sq m)
- Site of approximately 4.5 acres
- Purchased for £1.85m
3M Healthcare, Unit 3 Bridgend Science Park, Bridgend, CF31 3NA
A single let high yielding office investment purchased on behalf of Hastingwood Securities Ltd.
- Annual rent of £217,677per annum
- Fixed rental uplift in 2021
- 16,842 sq ft
- Let to 3M United Kingdom PLC
- Purchased for £2.41m showing a net initial yield of 8.45%
Wilko & Barnados, Carregammon Road, Ammanford, SA18 3ED
Two new town centre retail units purchased on behalf of Waypoint Asset Management.
- Freehold
- Annual rent of £241,000 per annum
- Let to Wilko and Barnados with a WAULT of 8.85 years
- Purchased for £2.85m showing a net initial yield of 7.92%
Trinity Quay, Kings Road, Swansea, SA1 8PH
Freehold site for student accommodation purchased on behalf of Crown Student Living.
- Surface car park site
- Approximately 1 acre
- Planning for 500 student beds (356 within clusters and 144 studios)
- Purchased for £5.5m
Christopher Grey Court, Llantarnam Park, Cwmbran, NP44 3SE
A modern single let industrial investment purchased on behalf of MGTS High Income Property Fund.
- 61,569 sq ft (5,720 sq m) industrial warehouse
- Let to Spear Group Holdings Ltd with an unexpired term of circa 7 years
- Rent passing of £286,800 per annum (£4.66 per sq ft)
- Virtual Freehold for a term of 999 years
- Purchased for £3,655,000 showing a net initial yield of 7.4%
Mochdre Enterprise Park, Newtown, SY16 4LE
A multi-let industrial estate sold on behalf of Goldtique.
- Freehold estate comprising 16 units, providing a total of 57,485 sq ft (5,386 sq m)
- Annual rent of £200,037 per annum
- Let to a mixture of national and local tenants
- Sold to a private investor for £1.6m
Convenience/Retail Portfolio
A portfolio of 3 convenience/retail assets purchased on behalf of Waypoint Asset Management.
- Located in Llanelli, Caerphilly & Newport
- Freehold
- Let to a variety of tenants including Vets 4 Pets, Dominos, Pappa Johns & Betfred
- Purchased for £3.025m, a net initial yield of 7.5% across the portfolio
Wilko, Singleton Street, Swansea, SA1 3QN
A prominent retail unit in Swansea City Centre purchased on behalf of Waypoint Asset Management.
- New 10 year lease
- Re-based rent of £370,000pa
- LLH interest
- Purchased for £4m showing a net initial yield of 8.2%
Mid/North Wales Industrial Portfolio
A portfolio of 6 industrial estates sold on behalf of Dunedin.
- Freehold
- Let to a variety of national and local occupiers
- The portfolio comprises 44 units totalling 65,669 sq ft (6,100 sq m)
- Total rent of £275,769pa
- Sold to a private investor for the asking price of £2.865m
43/44/45 The Parade, Cardiff CF23 3AB
A terrace of three period offices sold on behalf of Hollybush Properties Ltd.
- Freehold
- Let to NHS, VFC Charity and Kings Monkton School
- Total rent of £88,120pa
- Sold for £1.175m showing a net initial yield of 7.1%
Dunelm, Upper Boat Trading Estate, Pontypridd, CF37 5BP
A modern well let retail warehouse sold on behalf of Columbia Threadneedle.
- Let to Dunelm Group for 14 years unexpired term
- Comprising 34,000 sq ft
- Rental income of £248,500 per annum
- Freehold
- 5 yearly upwards only rent reviews to OMV – capped at 2% pa compounded
- Sold for £3.3m showing an equivalent yield of 7.1%
Shell Petrol Filling Station, M4 J30 Malthouse Avenue, Cardiff, CF23 8RA
An M4 Motorway Services petrol station sold on behalf of Columbia Threadneedle.
- Let to Shell at an annual rent of £279,000
- Approximately 4.5years to lease expiry
- Long leasehold
- Sold for £4m showing a net initial yield of 6.5%
Units 1, 2 & 3 Hamlin Way, Hardwick Narrows Industrial Estate, King's Lynn, PE30 4NG
A single let industrial warehouse with re-development potential sold on behalf of Andiamo.
- Let to Gardman Ltd for a term of 11 years from May 2008
- Comprising 331,618 sq ft
- Rental income of £375,000 per annum
- Freehold
- Sold for £2.3m
Dunelm, Upper Boat Trading Estate, Pontypridd, CF37 5BP
A modern well let retail warehouse purchased on behalf of Columbia Threadneedle.
- Let to Dunelm Group on a new 15 year lease
- Comprising 34,000 sq ft
- Rental income of £248,500 per annum
- Freehold
- Purchased for £2.6m showing an equivalent yield of 7.5%
One Cathedral Square, Trinity Street, Bristol, BS1 5DL
Freehold City Centre office building purchased on behalf of Mercer Real Estate Partners.
- Comprising 53,696 sq ft (4,988 sq m)
- Full Vacant Possession
- Refurbishment opportunity
- Purchased for £7.3m
Pentood Enterprise Park, Cardigan, SA43 3AG
A multi-let industrial estate sold on behalf of Hansteen.
- The estate comprises 14 units, providing a total 40,660 sq ft
(3,777 sq m) - Fully let
- Annual rent of £112,800 per annum
- Freehold
- Sold for £1.0875m showing a net initial yield of 9.8%
Caradog House, Cardiff, CF10 3BE
Freehold town centre office investment purchased on behalf of Crown Student Living.
- Totalling 53,974 sq ft over lower ground to fourth floors
- Let to The Secretary of State for the Environment until 28 September 2020 subject to a tenant break option on 31 March 2018
- Passing rent of £709,610 per annum
- Purchased for £7.5m showing a net initial yield of 8.94%
- Client has received planning permission for change of use to student accommodation to comprise 378 beds.
Cadarn House, Cardiff, CF23 8FF
A modern two storey detached out of town office investment purchased on behalf of F&C Reit.
- Fully occupied by Barclaycard until May 2018
- 28,851 sq ft (2,680.32 sq m) net internal area
- Rental income of £360,000 per annum
- Freehold
- Purchased for £2.835m showing a net initial yield of 12%
Waitrose, Pentwyn Road, Cardiff, CF23 7HX
A modern, well-let food store purchased on behalf of F&C Reit.
- Let to Waitrose Limited on a 20 year FRI lease from 10 March 2008
- Subject to five yearly rent reviews with fixed 2.5% per annum compound uplifts
- Rental income of £765,584 per annum
- Freehold
- Purchased for £15.3m showing a net initial yield of 4.73%
Units 11 & 11A Callywith Gate Industrial Estate, Bodmin, PL31 2RQ
A well let industrial warehouse sold on behalf of Richard Hayward Properties.
- Excellent location in a prominent position on Callywith Gate Industrial Estate
- Freehold
- 60% of income let to Royal Mail Group Limited on a new 15 year lease without break from May 2013
- Rental income of £170,000pa with guaranteed fixed uplifts
- Sold for £1.96m showing a net initial of 8.19%
Fusion Point II, Cardiff, CF10 5BF
Prime City Centre multi-let office investment purchased on behalf of Fidelity International Real Estate Fund.
- Freehold 'Grade A' office building completed in 2007 and developed to a high specification
- Comprises 59,750 sq ft (5,551 sq m) over 4 storeys with open plan, flexible floor plates and 59 car parking spaces
- Fully let to a diverse range of tenants including Deloitte LLP, Balfour Beatty Group Limited and ACAS
- Total rent of £1,015,124 per annum which equates to £16.98 per sq ft
- Multi let with a WAULT of 8.03 years to lease expiries and 3.99 years to break options
- Purchased for £11.2m showing a net initial yield of 8.6%
Mill Street Industrial Estate, Abergavenny, NP7 5HE
A multi-let industrial estate sold on behalf of Hansteen.
- The estate comprises 23 units, providing a total of 39,648 sq ft
(3,683 sq m) - Low vacancy rate of 9.37%
- Annual rental of £249,086 per annum
- Freehold
- Sold for £2.56m showing a net initial yield of 9.19%
Carluccio’s, 27 Spital Square, London, E1 6DZ
A modern ground floor restaurant unit purchased on behalf of CBRE Global Investors.
- The unit comprises 3,829 sq ft (355.6sq m) of restaurant and storage accommodation
- Let to Carluccio’s Limited on an FRI lease expiring on 28 September 2026 proving approx. 13 years unexpired income
- The rent passing is £139,578pa with unfettered RPI uplifts
- Long leasehold interest at a peppercorn
- Purchased for £2.807m reflecting a net initial yield of 4.7%
Bus Station, Plymouth Street, Swansea, SA1 3QF
A newly constructed retail investment purchased on behalf of Waypoint Asset Management Limited.
- 3 retail units (A1/A3) providing 11,033 sq ft (1,025 sq m)
- Situated within the new covered Bus/Coach Station, which generates 10,600,000 passenger movements per annum
- Let to Co-op, Costa Coffee and Greggs
- Long leasehold interest
- Purchased for £2.1m reflecting a net initial yield of 7.6% - with guaranteed uplifts
Wales & West House, Celtic Springs Business Park, Newport, NP10 8FZ
A modern headquarters office building purchased on behalf of the occupier; Wales & West Utilities
- 35,590 sq ft of high specification office accommodation
- Freehold
- Let to Wales and West Utilities Ltd until June 2021
- Purchased for £6.25m
Llanrumney Medical Centre, Ball Rd Llanrumney, Cardiff, CF3 5NP
Purpose built medical centre investment acquired for Primary Health Properties.
- Modern high specification two storey detached medical centre and pharmacy building
- Comprising circa 1,099.37 sq m (11,833 sq ft) with 52 parking spaces
- Average Weighted Unexpired Lease Term of 23.57 years to expiry (12.64 years to break)
- Purchased for £2.2m showing a net initial yield of 7.25%
Capital Tower and Friary House, Greyfriars Road, Cardiff, CF10 3AE
Prime City Centre Office and Leisure Investment acquired on behalf of Topland Group.
- Freehold Landmark buildings – Capital Tower, a high profile office building and Friary House, a mixed use office / leisure investment
- Capital Tower – Cardiff's tallest building comprising 25 floors and 123,681 sq ft
- Friary House – a 9 storey mixed use building with seven floors of office space and three floors of leisure space totalling 68,808 sq ft
- AWULT of 5.92 years to break and 7.24 years lease expiry – average rental of £12.34 psf
- Purchased for £12.35m showing a net initial yield of 18.9%
Westons Way, Kingswood, Bristol, BS15 9RR
Neighbourhood Retail Centre purchased for Local Shopping REIT.
- Retail scheme anchored by Tesco Express
- Freehold
- Bought for £1.018m providing a net initial yield of 7.25%
17 Shannon Way, Tewkesbury Business Park, Tewkesbury GL20 8ND
Prime Industrial Warehouse Investment acquired on behalf of A & J Mucklow.
- Excellent location adjacent to Junction 9 of the M5
- Freehold, modern building comprising 64,346 sq ft
- Let to Chesapeake Ltd, D&B Rating 5A1 on a 15 year unbroken term
- Purchased for £3.95m showing a net initial yield of 7.3%
226 – 227 Oxford Street, Swansea, SA1 3BS
Prime City Centre Retail Investment acquired on behalf of private client.
- The property occupies a 100% prime location
- Ground Floor Sales of circa 5,670 sq ft (526.76 sq m)
- Let to Next Group Plc for 10 years from March 2011
- Long leasehold
- Purchased for £2.65m showing a net initial yield of 7%
125 – 139 Queen Street, Cardiff, CF10 2BJ
Prime City Centre Retail Investment acquired on behalf of Aberdeen Asset Managers.
- Well secured retail investment located in the centre of Cardiff
- 20,000 sq ft Sainsburys Supermarket plus two well let unit shops strategically located opposite Queen Street rail station
- Let to KFC, Starbucks and Sainsburys
- Freehold property
- Rent passing of £1,021,250pa
- Purchased for £17.02m
697 Station Road, Kenilworth, CV8 1JD
Prominent Retail Unit acquired on behalf of a private investor.
- Well secured retail investment located in Kenilworth Town Centre
- Well configured, recently refurbished retail unit adjacent to a newly developed Waitrose Supermarket and the main town centre car park
- Freehold property comprising 1,357 sq m (14,602 sq ft)
- Let to Wilkinson Hardware Stores Limited (D&B rating 5A1) for a further 14.7 years with a tenant break option in 2021
- Rent passing of £110,000pa
- Purchased for £1.65m
