The property occupies a prominent position on St Mary Street within Cardiff’s Castle Quarter, which has become the city’s prime leisure pitch. St Mary Street forms a key pedestrian thoroughfare linking Cardiff Central Station to the north of the city centre, benefitting from exceptionally high footfall from both local residents and visitors as well as the burgeoning student population.

The property is sandwiched between two exceptional developments, with the Howells development on one side and Fairfax House on the other, which will help to cement this location in the city as a retail / leisure destination for years to come. Furthermore, the property is within 150 metres of the city’s 3 top tourist attractions, including Cardiff Market, Cardiff Castle and the Principality Stadium.

Market Buildings is an attractive Grade II listed building and forms the main entrance to Cardiff Market. The building is arranged over basement, ground and five upper floors and is comprised of four ground floor retail units, a nightclub at basement level and office accommodation on the upper floors. There is a ground floor lobby and an employee lift and staircase providing access to the upper floors.  The property provides roughly 20,099 sq ft on a net internal basis.

Current total annual passing rent of £316,187 per annum (including landlord top-up).

The building is held on a 140 year long lease from the City of Cardiff Council expiring on 25th December 2131 leaving circa 106 years unexpired. The head lease is subject to a 5% gearing on rents received or £5,000 per annum. The current head rent payable is £11,151.55.

The freehold interest is held in a clean UK SPV which can be acquired by a purchaser. Further information can be provided on request.

Offers are invited in excess of £2,500,000 (Two Million Five Hundred Thousand Pounds), which reflects a net initial yield of 11.41%, assuming purchaser’s costs of 6.94% and a capital value of £119 psf.