Prime Rebased Retail Investment For Sale
- Cardiff has one of the strongest and most extensive retail offers in the UK, ranking 7th on the basis of its PMA Retail Score, 7th on the PMA
- Fashion Score and 10th on the PMA Fashion Square.
- The city boasts c.21 million tourists visit the city each year, bringing in an approximate total spend in excess of £1.3 billion to the local economy and c.25% of Wales’ Tourism revenue(Cardiff Tourism Summit).
- Cardiff capital region is the economic powerhouse of South Wales which contributed £3.7bn to the UK economy in 2021 (London Economics, 2022). Cardiff was voted as Europe’s third best city to live in (Visit Wales).
- The pedestrianised Queen street is the main retail thoroughfare in Cardiff, linking the city’s three main shopping centres: St David’s, The Capitol and Queen’s Arcade.
- New 90,000 sq ft Queen Street flagship Flannels, will further strengthen this location.
- Freehold with a total floor area of c.14,699 sq ft (1,366 sq m).
- Let to Sunrise Records and Entertainment Limited, t/a HMV at a rebased base rent of £150,000 pa, which reflects a low passing Zone A rent of £89 per sq ft, reduced from the previous passing rent of £300,000 pa.
- Ability to increase the passing rent through the turnover mechanism in the lease. Initial turnover estimates suggest the potential to increase the annual income to c £170,000pa.
Our clients are seeking offers in excess of £1,875,000 (One Million Eight Hundred and Seventy Five Thousand Pounds), subject to contract and exclusive of Vat, which reflects a net initial yield of 7.50% on the base rent, after deduction of standard purchaser's costs.