Admiral Insurance building in Swansea sails into new ownership

23 May 2017

PHG Capital, represented by international real estate advisor Savills, has sold an office building, fully let to Admiral Insurance, in Swansea to Perfect Estates for £1.5 million.

The 37,680 sq ft (3,500 sq m) building is let to Admiral Insurance on 10 year lease agreed in March 2016, generating an annual rent of £200,000. The property is located at Sandringham Park within Swansea Vale, surrounding occupiers include the DVLA, Handelsbanken and HSBC.

Ross Griffin, director in the investment team at Savills, Cardiff, comments: “We are seeing investors increasingly look for assets let to strong covenants with an attractive yield profile. The property’s full occupancy by Admiral Insurance and it’s location within the popular Swansea Vale area ensured we experienced high interest in the property and we are delighted to have secured a new owner for the building on behalf of our client.”

Matthew Pearcey of PHG Capital comments: “This is yet another great disposal for us as we look to keep purchasing large office buildings and pairing them with high quality tenants.”

 
 

Key Contacts

Ross Griffin

Ross Griffin

Director
Investment

Savills Cardiff

+44 (0) 2920 368 961

 

Rebecca Allen

Rebecca Allen

PR Officer
Commerical Marketing & Press

Savills Margaret Street

+44 (0) 207 409 8937