Wed, 13 Nov 2013 | COMMERCIAL PROPERTY
Ty Hywel, a commercial property that is the current location of the National Assembly for Wales, is on the market.
The building's freehold has a £39 million price tag and will see the new owners take on the Grade A 125,000 square foot building and its tenant, The National Assembly. The building is spread across six floors and includes 200 car parking spaces for the tenants' use.
A 25-year lease was signed between the building's current owner, Aprirose, and the National Assembly back in 2007 and at the moment the rental income is £2.3 million - a square footage rate of around £18.26.
Knight Frank is marketing the commercial property for sale, with Rob Jones of the Cardiff office and the London office's Shaun Roy taking the reigns. Mr Roy commented: “Crickhowell House presents a unique investment opportunity with the Assembly having an absolute need to occupy the building which is linked to the Senedd debating chamber.
“We expect this to draw interest from all sectors of the market and from around the globe.”
The sale is expected to generate significant interest in the building due to the strength of the contract with the Assembly.
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