Office for sale - Ocean Park House, East Tyndall Street, Cardiff, CF24 5ET

<strong>Description</strong><br>The property comprises a four storey building constructed in the early 1960’s and was formerly occupied by Littlewoods Pools. There is a ground floor reception accommodating lift and stairs to all floors. The central wing provides mainly open plan accommodation with the east and west wings a mix of open plan and more cellular accommodation. The ground floor benefits from a large cafe/breakout area.<br /> <br /> The building benefits from 220 parking spaces which equates to an excellent parking ratio of 1:223 sq.ft. The whole of the site extends to approximately 2.06 acres.<br><br><strong>Price</strong><br>We are instructed to seek offers in excess of £5,000,000 (Five Million Pounds) subject to contract and exclusive of VAT.<br /> <br /> A purchase at this level would reflect a low capital value of £102 per sq ft.<br><br><strong>Tenancy</strong><br>The property is let to Associated Community Training Ltd (now owned by Cardiff and Vale College) for a term of 20 years from 10 August 2012, expiring 9 August 2032, at a rent of £425,000 per annum (£8.66 ft2). The lease contains 5 yearly upwards only rent reviews and a tenant<br /> break option on 31 July 2027. <br /> <br /> The property is let on FRI lease terms subject to schedule of condition. <br /> <br /> Income analytics give them a score of 95 out of 100 and an equivalent Bond rating of A- and D and B give a rating of 2A1. Their sale revenue last financial year was just over £47 million with a profit of £3.6 million before taxes.<br><br>