investment purchaseSavills Investment Management, advised by Kitchen La Frenais Morgan, has acquired the freehold investment of 78 Queen Street, Cardiff from AXA Real Estate Investment Management for £4,15 million, reflecting a net initial yield of 7.4%.
The 4,500 sq ft prime retail property is let to Union Burger on a 15-year lease from December 2008 at a rent of £325,000 a year.
Cooke & Arkwright acted on behalf of the vendor.
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