An autocentre in Cardiff has been sold for £1.35m. In ‘N’ Out Centres, located on Cowbridge Road West in Culverhouse Cross, has been bought by a private property company.
The sale was completed by Savills, on behalf of MVJ Capital, with the sale price representing a net initial yield of 6.80%.
The 3,682 sq ft property includes a reception area, glazed customer lounge and five car servicing bays. The site has 27 car parking spaces, suitable for further development.
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Nearby occupiers include Aldi, Currys, B&M, Marks & Spencer, and McDonalds.
Ross Griffin, director of the Ƶ investment team at Savills in Cardiff, said: “We are delighted to have completed the sale of In ‘n’ out, which is located in a well-established area. The buyer has further opportunity to add value to its existing offering in this excellent roadside location.”
MVJ Capital’s Matthew Pearcey said: “This asset has been with us since 2015 and the market appetite for such sites made this an obvious time for us to exit and to explore larger opportunities.”
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