Bank Investment with asset management potential
149 Commercial Street
- Wales’ third largest city
- Undoubted Banking Covenant
- 100% prime location.
- Prominent corner building
- Between the entrances to Friars Walk Shopping Centre
- Let to TSB Bank PLC until September 2025
- Rent £60,000 pa (£5.64 Psf overall)
- Modern construction.
- The upper floors are mostly unused – providing excellent potential for residential conversion, subject to planning.
- With potential to re-gear the lease
- Offers in the region of £700,000 - reflecting a Net Initial Yield of 8.15% after purchaser’s costs of 5.16%
- The price equating to a capital value of £65.83 Psf on an overall basis