Part of High Street in the Cardiff suburb of Llandaff is under new ownership following a £1.2m-plus property investment deal.
The freehold interest in properties 18 to 18D, known as Landmark Parade, has been acquired by an undisclosed Cardiff-based investor from Clearwater Properties.
Landmark Parade comprises four ground floor retail units let on long term leases to tenants including, Llandaff Pharmacy, Hair Flair and John Williams Land & Estate Agents.
The scheme, which provides 5,149 sq ft of ground floor retail space, generates a gross income of £90,000 per annum.
The first floors have historic planning permission for nine apartments
David Williams of Emanuel Jones who acted on behalf of the purchaser said: “Our client sees this as a long-term investment in what is a sought-after suburb of Cardiff while there is also development potential on the upper floors with a variety of options.”
Dan Griffiths and Phil Gwyther of EJ Hales who acted for the vendor said: “We are delighted to have concluded a sale for our client who was the original developer of the property in what is a challenging commercial property market.”