Originally designed as a Grade-A office space and subsequently used as a private children’s day care centre the property – which is at Celtic Springs Business Park on Spooner Close in Newport – is constructed from steel frame.
As of February 1, 2023, it has been let to the Dean Close Foundation on a 20-year lease with no tenant break option. Little Trees Day Nursery Celtic Springs is being offered as a “freehold, modern, long let index nursery investment”.
The property is being marketed by Knight Frank with the listing included on Rightmove – seeking offers of more than £2,550,000 and reflecting a Net Initial Yield of 5.5 per cent, after deducting purchaser’s costs of 6.96 per cent.
There’s plenty of space – the property includes 9,200 square foot over two storeys (4,600 square foot respectively) and has a floor to ceiling height of 2.75 metres.
It was constructed in 2007 and each floor has clear internal space and is open plan throughout.
Key features of this property include:
- Air conditioning;
- Eight-person lift;
- Toilets on both floors;
- Enclosed garden area;
- Fifty car parking spaces;
- Reception area.
It’s in a “prominent commercial location” as the business park also includes Airbus, Microsoft, NHS, Welsh Water, and Wales & West Utilities.
Porsche is also currently relocating to a new, state-of-the-art location at Celtic Springs Business Park which will bring more than 100 employees to the area.
The business park is also on a “popular commuter route” just off junction 28 of the M4 and is near Newport city centre, along with the Welsh capital (Cardiff).
The property will be subject to five yearly RPI rent reviews, capped at five per cent and collared at two per cent. More information on this is available within the full listing at https://rb.gy/fo78ka
