Former banking hall located in the heart of Cardiff city centre

• Highly prominent corner site at the junction of Windsor Place and the pedestrianised Queen Street

• Current total annual passing rent of £272,480 per annum

• Planning permission granted for the conversion and extension of the building to provide 33 residential apartments

• Totalling 21,575 sq ft NIA over basement, ground and three upper floors

• Within 5 minutes’ walk from the entrance to Cathays, which is Cardiff’s foremost student district and is home to nearly 50,000 students

• Cardiff is the capital city of Wales with a population of over 350,000 people and over 1.2m people in the wider catchment area

• 80,000 students across four growing institutions of higher education

• ERV of circa £300,000 per annum

• Various asset management opportunities through lease re-gears, potential uplift in both office & retail rental values and repositioning

• Potentially suitable for a range of alternative uses including residential, student accommodation or hotel subject to necessary consents

Offers are invited in excess of £2,950,000 (Two Million Nine Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. Pricing at this level reflects a net initial yield of 8.64% and reversionary yield of 9.50% and a capital value £137psf.