MCR sells Bangor office scheme
Legat Owen has sold the Ash Court office building on Parc Menai Business Park in North Wales on behalf of MCR Property Group.
The agent let the last remaining space at the 20,000 sq ft Ash Court three months ago and has now sold the building to a private investor client of surveyor Fifield Glyn for close to the £1.4m asking price.
Abuse prevention charity Hafan Cyrmu took the last 800 sq ft available at Ash Court, joining a 12-strong tenant roster including Alzheimers Society, North Wales Advice, Nestor Primecare Services and Agored Cyrmu.
Will Sadler, director, office agency at Legat Owen, said: “Activity has progressed swiftly at Ash Court, demonstrating the overall strong performance of Parc Menai as a business location in North Wales.
“With plans developing for the new nuclear power station at Wylfa, our client has recognised the ability to maximise Ash Court’s value and appeal to purchasers, which has paid off successfully for them with this strong deal.”
The scheme produces an annual income of £141,305, equating to a yield of 9.52%.
Richard Smith, director at Fifield Glyn, acted for the purchaser and has been retained to manage the scheme.