The Charnwood Group has sold the freehold of Units 1-7 Charnwood Court, Parc Nantgarw, Cardiff for £3.8m to Dunedin, reflecting a net initial yield of 9.85%.
Charnwood Court comprises seven two-storey units totalling 35,114 sq ft, which are let to Velindre NHS Trust, Astutis and K3 FDS. The average unexpired lease terms total circa six years and the asset generates £401,238 pa.
Ross Griffin, director of Savills Cardiff, said: “Parc Nantgarw is an established, mixed-use business park ideally located on the outskirts of Cardiff attracting a number of leading blue chip companies. This is a strong investment that provided an attractive initial yield, and we are pleased with the success of the sale and price secured for our client.”
The Charnwood Group was represented by Savills. Dunedin was represented by JLL.
