An office estate in the centre of Cardiff has been bought in an £7.5m property investment deal.
The Trade Collective scheme, whose four heritage buildings provide 43,850 sq ft of office accommodation along Womanby Street, with part of it fronting onto Westgate Street, has been acquired by property investor Telereal Trillium from Aegon Property Income
Aegon were advised on the deal by Cooke & Arkwright’s investment agency team and joint agents, Savills. CBRE acted for Telereal Trillium.
The estate includes 23 Womanby Street, Castle Buildings, and Westgate House & Court, providing warehouse style office space, The fourth element, the Croft & Womanby Studios, provide a courtyard office setting in Jones Court.
The Trade Collective is almost fully let with the remainder under offer.
Current occupiers include Atlantic Resource, Bar 44, Box UK, BRC, Contractors QS & PM, Ffenics Developments, Gaunt Francis Architects, GRC World Forums, Lyons Davidson solicitors, Sero Life, and Stepping Stones.
A refurbishment programme was recently completed on three of the four offices.
The scheme currently generates an annual net rent of £725,564.
