The freehold investment of the Owain Glyndwr, an iconic pub in the centre of Cardiff, has been acquired by a private client for £2.125m.
The sale price for the property, which comprises a substantial 13,500sq ft public house with a three-bedroom manager’s apartment on the first floor, reflected a net initial yield of 5.32%.
Jack Silvani of Coffer Corporate Leisure, which advised the purchaser, said “Investors recognise the value of purchasing assets with strong property fundamentals and are willing to pay yields that are reflective of their quality. We believe the pub investment market, centered on strong regional cities, offers great opportunity at present.”
Lewis Ellis acted for the vendor.