Emanuel Jones has successfully negotiated the sale of the ground floor retail premises at Cathedral House, 31 Cathedral Road, Cardiff, CF11 9HB.
The 999 year long leasehold interest achieved a purchase price of £440,000.
The investment was subject to an occupational lease to KIN + ILK Pontcanna Ltd for a term of 15 years at an annual rent of £37,500 from December 2015.
This equates to a net initial yield of 8.16% assuming purchaser’s costs of 4.36%.
The private investor who purchased the property was unrepresented.
The building has undergone a complete refurbishment from offices into a ground floor retail premises with 21 bespoke apartments above.