Savills, on behalf of MVJ Capital, has completed the sale of In ‘N’ Out Centres, Drive Thru MOT and Servicing Centre in Cardiff to a private property company for £1.35m. The sale price represents a net initial yield of 6.80%.
The 3,682 sq ft property comprises a steel framed modern construction arranged on the ground floor providing a reception area, glazed customer lounge and 5 car servicing bays. The site has 27 car parking spaces, which are suitable for further development.
In ‘n’ out is situated on Cowbridge Road West (A48) in Culverhouse Cross, 8 miles west of the city centre and benefits from Valegate, Brooklands and Wenvoe Retail Parks. Nearby occupiers include Aldi, Currys, B&M, Marks & Spencer and McDonalds.
Ross Griffin, Director in the UK Investment team at Savills Cardiff, says: “We are delighted to have completed the sale of In ‘n’ out, which is located in a well-established area. The buyer has further opportunity to add value to its existing offering in this excellent roadside location.”
Matthew Pearcey of MVJ Capital, adds: “This asset has been with us since 2015 and the market appetite for such sites made this an obvious time for us to exit and to explore larger opportunities.”
