Yield reaches new levels in Cardiff industrial deal

International real estate advisor Savills, on behalf of Pears Property, has sold The Levels, Capital Business Park, Phase 2, Cardiff to Longmead Capital in a deal reflecting a net initial yield of 7.34%.

Built in 2006, The Levels is Cardiff’s most successful industrial park and comprises 119,306 sq ft (11,083 sq m) across 26 units in a site area of approximately 7.18 acres (2.904 hectares). The scheme generates an annual rental income of £369,632 per annum with current tenants including national occupiers such Fed Ex, National Grid and Panalux Ltd.

Ross Griffin, investment director at Savills Cardiff, comments: “Having originally purchased The Levels in 2014 from AXA Insurance, our client has successfully asset managed the scheme to create the best multi-let industrial park in Cardiff. This was reflected in the strong yield, which is the sharpest multi let industrial yield seen in Cardiff for almost a decade.”

Longmead Capital was advised by JLL.

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