Property Auctions 18/Oct/2018 | Castleton Court and Transtech House, Fortran Road, St Mellons, Cardiff, CF3 0LT

Freehold Office Investment

3,980 sq m (42,841 sq ft) modern office accommodation
Arranged over 3 x two storey detached buildings with generous on-site parking
Located within established St Mellons Business Park close to A48 and M4

Lot 31
Auction 18th October 2018
Rent £207,450 per Annum Exclusive
Status Sold Post
Price
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 6 miles north-east of Cardiff; 6.6 miles south-west of Newport
Roads: A48, M4
Rail: Cardiff Queen Street
Air: Cardiff International Airport

Situation

Castleton Court and Transtech House are located on the established St Mellons Business Park which houses occupiers including Lloyds Bank, Dwr Cymru and Capita. The business park is situated to the north-east of Cardiff, just off the A48 providing direct access to Cardiff city centre and Newport city centre.

Tenure

Freehold.

Location

Miles: 6 miles north-east of Cardiff; 6.6 miles south-west of Newport
Roads: A48, M4
Rail: Cardiff Queen Street
Air: Cardiff International Airport

Situation

Castleton Court and Transtech House are located on the established St Mellons Business Park which houses occupiers including Lloyds Bank, Dwr Cymru and Capita. The business park is situated to the north-east of Cardiff, just off the A48 providing direct access to Cardiff city centre and Newport city centre.

Tenure

Freehold.

Description

The property comprises three detached office buildings. Castleton Court comprises two L-shaped office buildings within a courtyard complex which have been separated into nine units. Units 5 and 9 have been further divided so that the complex provides a total of eleven units. Each unit is capable of being subdivided by floor. Adjacent to this is Transtech House, a two storey detached office building.
The properties provide predominantly open plan accommodation capable of division, with male and female WC facilities and generous on-site car parking.
The accommodation benefits from perimeter trunking, suspended ceilings and recessed lighting.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises three detached office buildings. Castleton Court comprises two L-shaped office buildings within a courtyard complex which have been separated into nine units. Units 5 and 9 have been further divided so that the complex provides a total of eleven units. Each unit is capable of being subdivided by floor. Adjacent to this is Transtech House, a two storey detached office building.
The properties provide predominantly open plan accommodation capable of division, with male and female WC facilities and generous on-site car parking.
The accommodation benefits from perimeter trunking, suspended ceilings and recessed lighting.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Transtech House	Ground/First	1,569.23 sq m	(16,891 sq ft)	GYRUS MEDICAL LTD (1)	Approx 7 years 4 months from 09/08/2012 on a full repairing and insuring lease	£85,000	(25/12/2019)
Unit 3 - Castleton Court	Ground/First	415.56 sq m	(4,473 sq ft)	MARR CORPORATION LTD (2)	5 years from 09/08/2017	£37,500	(09/08/2022 )
Unit 5a - Castleton Court	Ground	117.99 sq m	(1,270 sq ft)	RPS ENVIRONMENTAL MANAGEMENT LTD (3) guaranteed by RPS Group Surety	5 years from 27/06/2014	£9,443	(27/06/2019)
Unit 5b - Castleton Court	First	116.87 sq m	(1,258 sq ft)	GRAYDON UK LTD (4)	10 years from 26/11/2009	£18,285	(26/11/2019)
Unit 7 - Castleton Court	Ground/First	296.83 sq m	(3,195 sq ft)	CARDIFF HOMECARE LTD (5) (6)	5 years from 06/09/2017	£24,538	(06/09/2022 )
Units 8a & 8b - Castleton Court	Ground/First	146.88 sq m	(1,581 sq ft)	1ST GREEN DEAL LTD (7) (8)	5 years from 14/10/2016	£12,050	14/10/2019 (13/10/2021)
Unit 9a - Castleton Court	Ground	118.45 sq m	(1,275 sq ft)	LOOKERS MOTOR GROUP LTD (9) (10)	5 years from 20/02/2018	£10,634	(20/02/2023 )
Unit 9b - Castleton Court	First	117.71 sq m	(1,267 sq ft)	SWEETT (UK) LTD (11)	5 years from 25/09/2015	£10,000	(25/09/2020 )
Unit 1 - Castleton Court	Ground/First	455.88 sq m	(4,907 sq ft)	VACANT POSSESSION
Unit 2 - Castleton Court	Ground/First	168.43 sq m	(1,813 sq ft)	VACANT POSSESSION
Unit 4 - Castleton Court	Ground/First	312.15 sq m	(3,360 sq ft)	VACANT POSSESSION
Unit 6 - Castleton Court	Ground/First	144.09 sq m	(1,551 sq ft)	VACANT POSSESSION
Total		3,980.07 sq m	(42,841 sq ft)			£207,450

(1) For the year ending 31st March 2017, Gyrus Medical Ltd reported a turnover of £37,894,000, pre-tax profits of £2,689,000 and a total net worth of £13,389,000 (Source: Experian Group 19/09/2018).
(2) For the year ending 31st July 2017, Marr Corporation Ltd reported a turnover of £17,037,698, pre-tax profits of £1,925,606 and a total net worth of £5,883,239 (Source: Experian Group 19/09/2018).
(3) For the year ending 31st December 2017, RPS Environmental Management Ltd reported a turnover of £62,092,000, pre-tax profits of £8,831,000 and a total net worth of £12,387,000 (Source: Experian Group 19/09/2018).
(4) Graydon provides business intelligence solutions for credit management, marketing information and risk & compliance with offices in London, Amsterdam and Antwerp (Source: www.graydon.co.uk 19/09/2018).
(5) Formed in 2015, Cardiff Homecare Ltd provides dependable, high quality healthcare services (Source: www.cardiffhomecareservices.com 19/09/2018).
(6) The lease of Unit 7 provides a tenant option to determine on 06/09/2020, subject to 6 months’ notice and a 3 month rental penalty payable by the tenant.
(7) Founded in December 2012, 1st Green Deal endeavours to deliver useful and innovative information to both householders and businesses interested in improving their energy efficiency (Source: www.1stgreendeal.com 19/09/2018).
(8) The lease of Units 8a & 8b provides a tenant option to determine on 14/10/2019, subject to 6 months’ notice and a 3 month rental penalty payable by the tenant.
(9) Lookers Motor Group offer new and used cars from leading manufacturers with over 150 dealerships (Source: www.lookers.co.uk 19/09/2018).
(10) The lease of Unit 9a provides a tenant option to determine on 20/02/2021, subject to 6 months’ notice.
(11) Sweett (UK) Ltd, is part of Currie & Brown, an asset management and construction consultancy with a global office network (Source: www.curriebrown.com 19/09/2018).