Sold

Caerphilly, Gwent – Headquarters Building with 14.4 Years Unexpired and Fixed Uplifts

phs Building, Western Industrial Estate, Caerphilly, Cardiff, CF83 1XH

Offers in excess of £5,975,000

Property Type:
Commercial
Sub Type:
Office
Tenure:
Freehold
Net Initial Yield:
6.50%

Income

£413,851 pa

Description

  • Purpose built Headquarters office building.
  • Located on a well-established industrial estate 9 miles north of Cardiff.
  • Let to Personnel Hygiene Services Limited until 2036 (14.4 years unexpired) with no breaks.
  • Guaranteed by PHS Group Holdings Limited – founded in 1963.
  • Producing a current income of £413,851 per annum.
  • The rent is subject to fixed 5-yearly rental uplifts of 2.75% per annum, next uplift due 2026.
  • Freehold.
  • Single storey office accommodation providing 32,755 sq ft (3,043 sq m) with approx. 220 car parking spaces.
  • Serving 58 depots nationwide.
  • Well-connected to UK motorway network via the M4.
  • The vendor is seeking offers in excess of £5,975,000 subject to contract and exclusive of VAT. Based on this level of pricing, this reflects a net initial yield of 6.50% assuming standard purchasers costs, rising to 7.44% in 2026 based on the guaranteed rental uplift.