Cardiff City Centre Purchase for Craigard adds to Growing National Portfolio
Craigard has completed the purchase of Castle Buildings, a 15,000 sq ft property in Cardiff, in a deal worth £2.05million.
Situated in the heart of the city centre, Castle Buildings is a former Georgian Mill Building which has been converted into a four-storey office space. Regional Law firm Lyon Davidson are tenants of the building until March 2026 at a rent of £216740 pa - £14.44 psf. Initial yield is an attractive 10%. “This is a great purchase for us, which we have achieved through our syndication structure,” comments Paul Foster of Craigard. “The location of this quirky and interesting building is fantastic, it has a good steady income stream for another ten years with potential change of use to flats at lease expiry should the tenant choose to vacate. Cardiff as a city has a fantastic story at the moment and I have no doubt that this purchase will be beneficial to all of our investors.”