Pears Property has sold the Levels at Capital Space Business Park in Cardiff to Longmead Capital for a record yield.
The yield of 7.34% is the sharpest seen in Cardiff’s industrial market for almost a decade.
The Levels comprises 119,306 sq ft across 26 units on approximately 7.18 acres. It generates an annual rental income of £369,632 pa from tenants including FedEx, National Grid and Panalux.
Ross Griffin, investment director at Savills Cardiff, which acted for Pears Property, said: “Having originally purchased the Levels in 2014 from AXA Insurance, our client has successfully asset managed the scheme to create the best multi-let industrial park in Cardiff.”
Longmead was advised by JLL.
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