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Investment
Commercial Estates Group, advised by DTZ, as sold Castleton Court and Transtech House, St Mellons Business Park, Cardiff to Citicourt Investment Partners, advised by Barrs Freer Smith, for £6m.
The campus office development comprises 2,410 sq m (25,941 sq ft) of offices and a 1,569 sq ft (16,891 sq ft) industrial unit.
The offices are multi let to tenants including IBM UK Ltd, Thomson Directories, Wesleyan Finance and the countryside Covenant for Wales. The total passing rent is £432,408 pa.
Merthyr Tydfil
DTZ, acting on behalf of Grovespear Ltd, have concluded the funding acquisition of the new Welsh Assembly building, which has just been completed at Rhydycar Business Park, Merthyr Tydfil. The 81,806 sq ft landmark office building was developed by David McLean Developments Ltd.
The Welsh Assembly has taken a 15 year lease at a fixed rent of
Grovespear bought the building for £11.8m, showing a net initial yield of 10.53% and an internal rate of return of 8%.
Rees Richards represented David McLean in the funding sale.
Cardiff
Acting on behalf of a private vendor, Burnett Davies have sold 17 Llantrisant Street, Cardiff to a private purchaser. The premises comprise a ground floor retail unit with two bedroom flat above of 22.98 sq m (247 sq ft) and were sold for £190,000.
Cardiff
Acting on behalf of a private vendor, Burnett Davies have sold 35 Splott Road, Cardiff to a private purchaser. The premises comprise a ground floor retail unit with two bedroom flat above of 129.01 sq m (1,388 sq ft) and were sold for £170,000.
