On behalf of Charnwood Holdings Ltd, international real estate advisor Savills has sold the freehold investment of the RMD Kwikform site on Penarth Road in Cardiff to private purchasers for £750,000, reflecting a net initial yield of 7.68%.
The property is currently let in its entirety to RMD Kwikform, with an unexpired lease term of two years and generates an annual rental income of £61,000 per annum.
Ross Griffin, director of investment at Savills Cardiff, comments: “Located in a prime position on Penarth Road in the centre of Cardiff, the RMD Kwikform site represented a strong investment opportunity. Due to its potential for value-added asset management we were able to secure an excellent sale price for the property on behalf of our client.”
The private purchasers were not represented.