Cardiff petrol and gas station sold for £ 10million

0

A Cardiff petrol station and an adjoining petrol station were sold for £ 10million.

Savills, acting on behalf of Cardiff Gate Business Park, has completed the sale of the Cardiff Gate gas station and services to Newcore Capital Management.

The sale price of £ 10million represents an initial net yield of 4.79%.

The asset, at junction 30 of the M4, is leased to Shell and Welcome Break for an annual rent of £ 515,023.

Ross Griffin, Director of Investments in the Cardiff Savills office, said: “We are delighted to have advised Cardiff Gate Business Park on its divestiture of Cardiff Gate gas station and services. The leading freeway service station is in a fantastic location and has offered an attractive yield and revenue stream to the buyer.

Andrew Bolt of Tand Advisory, Director of Development for Cardiff Gate Business Park, said: “After combining the two properties four years ago, we have created a well-located asset with solid long-term income, which is attractive to the current investment market. ”

Newcore Capital Management was advised by Cooke & Arkwright.

In addition to a detailed early morning newsletter, we will send regular email alerts on the latest news. To register for this service CLICK HERE

LinkedIn

And follow us on LinkedIn for the latest stories and network with the Welsh business community.

Nick Lawley, Chief Investment Officer at Cooke & Arkwright, said: “We are delighted to have secured another social infrastructure asset in an off-market transaction for Newcore Capital Management. We believe this combination of long income and asset management opportunities will provide attractive returns. ”


Source link

Share.

Comments are closed.