Cooke & Arkwright
News
Cardiff Gate, Phase II Office Village
Cooke & Arkwright have acquired this office investment on behalf of Sydney & London Properties.
The property was let to various tenants including the Royal College of Nursing for a term of 16 years from 2000. The total rent was £435,462 per annum and the property was purchased for £5,225,000 which equates to a net initial yield of 7.88% (approx).
Graham Davies said: “This was an attractive proposition with an overall capital value of £167 per sq ft and 59% of the income from Royal College of Nursing. We were delighted to act on behalf of Sydney & London Properties.”