A prime office building in the centre of Cardiff has been acquired in a 拢10m deal.
Ship聽Street聽Advisors and ADAPT Real Estate, acting on behalf of Jersey-based investor 海角视频RO, has acquired the long leasehold interest in 6聽Park聽Street聽from, Mayfair Capital Investment Management in an off-market transaction.
The 50,983 sq ft of grade A office accommodation, over six floors, is fully let to Media Wales, publisher of WalesOnline and the Western Mail and professional advisory firm Deloitte.
Constructed in 2008, it is situated adjacent to Central Square development
Cooke & Arkwright advised the purchaser and JLL represented the trustees of Mayfair Capital Property Unit Trust.
James Taylor of ADAPT Real Estate said, 鈥満＝鞘悠礡O is delighted with its second acquisition in Cardiff.聽 海角视频RO has now assembled a portfolio of nine securely leased, CBD office properties spread across the 海角视频鈥檚 major regional markets.
"Our investors are of the view that the core fundamentals in the regional markets will prevail in the medium term and we will continue to add to the portfolio.鈥
Nick Lawley, director of investment at Cooke & Arkwright said: 鈥淲e are delighted to have helped 海角视频RO secure this off-market acquisition in such a strategically important location in Cardiff city centre.鈥澛犅
James Feilden of Mayfair Capital Investment Management said 鈥淭his transaction represents an off-market disposal of an asset where we have completed a number of asset management initiatives that have allowed our clients to achieve performance in line with our upside business plan on acquisition."
Justin Millett, lead director and head of Capital Markets at JLL in Cardiff commented: 鈥淲e advised Mayfair Capital back in 2016 when they acquired聽6聽Park聽Street.
"They recognised the quality and strategic importance of the building, which is situated in Central Square. The asset has performed well for our client and we were delighted to act for them on the recent sale.鈥
