121-123 Queen Street, 40 Windsor Place, CF 40 Windsor Pl Local commercial 2 004 m² 100 % Loué À vendre Cardiff CF10 3BW 3 457 483 € (1 724,96 €/m²)

The property comprises a highly prominent freehold corner building positioned at the junction of Queen Street and Windsor Place, at the heart of Cardiff city centre, benefitting from exceptional visibility on the city’s prime pedestrianised retail pitch. Arranged over basement, ground and three upper floors, the building extends to approximately 21,575 sq ft NIA and provides ground and lower ground retail accommodation with self-contained office upper parts, with planning consent in place for the conversion and extension to deliver 33 residential apartments. The property currently produces a total passing rent of £272,480 per annum, with 28% of the income secured to the strong covenant of Serco, and offers multiple asset management opportunities including re-gears, rental uplift and future change of use. Located within a 5-minute walk of Queen Street Station and close to Cardiff Central Station, the asset benefits from excellent rail, bus and road connectivity, underpinning strong occupational demand. The building is offered at £2,950,000, subject to contract and exclusive of VAT, reflecting a net initial yield of 8.64%, a reversionary yield of 9.50% and a capital value of approximately £137 per sq ft.