The 20,323 sq ft city centre property is situated directly opposite Cardiff Castle and close to the Principality Stadium and comprises a popular bar and restaurant, along with four newly refurbished self-contained office suites on the upper floors. The tenant, Revolution Bars, hold a lease on the bar and restaurant space until 2042. In total, the asset produces £287,000 in annual rental income, with further active asset management potential.
John Mehtab of Acuitus comments: “The UK leisure sector is still performing well across the national picture. Investors are often on the lookout for strong covenants, excellent market conditions, reliable tenants, and further asset management potential. All can all be found with this property.”
The Acuitus auction will take place on March 27th at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
