Savills, on behalf of Quidnet Capital, has sold 10 Wind Street in Swansea for £1.575 million to a private property company, reflecting a net initial yield of 8.67%.
10 Wind Street is a freehold property in Swansea City centre and comprises 32,698 sq ft (3,038 sq m) of leisure space over five floors.
Currently let to Scottish and Newcastle and trading as Idols Bar, the property generates an income of £145,000 per annum. Located in a prime leisure pitch, the property benefits from a strong student catchment and resident population.
Ross Griffin, investment director at Savills Cardiff, comments: “We are pleased to have secured new owners for 10 Wind Street on behalf of our client following a successful marketing campaign that generated significant interest in the property.
“The property is centrally located in the heart of the leisure offering of the city, ensuring its continued popularity.”