The Avenue Retail Park The Avenue Retail Park, Cardiff, CF23 9AE

Cardiff is the capital city of Wales and one of the fastest growing cities in the UK.

Newport Road is the most established retail warehousing destination in the city.

Prime convenience-led scheme with circa 60% of the income from retailers deemed essential during COVID-19.

Anchored by M&S Foodhall, B&M and Home Bargains, with other occupiers being Matalan, Sharps Bedrooms, Magnet and Greggs.

119,550 sq ft and site area of 8.16 acres.

Low average rent of just £12.60 per sq ft, with a total current rent of £1,509,752 per annum.

Class E planning consent which was formerly bulky goods consent with various relaxations.

Asset management opportunities including extending the WAULT through lease re-gears and creating a new pod unit development.

Freehold.

We are instructed to seek offers in excess of £16,965,000 (Sixteen Million, Nine Hundred and Sixty Five Thousand Pounds), subject to contract and exclusive of VAT.

This reflects an attractive net initial yield of 8.25%, based on purchaser’s costs of 7.67%. This gives a low capital value of just £142.00 per sq ft.