More Information
-
LOCATION
Cardiff Gate Services is strategically located on the M4 motorway at Junction 30, approximately 5 miles north-east of Cardiff city centre. The M4 motorway is one of the UK’s key strategic transport routes, providing direct connectivity between London, the south west of England and south Wales. The motorway serves a wide regional catchment and carries significant daily traffic volumes.
-
DESCRIPTION
The property comprises a purpose-built Motorway Service Area situated on an 8.7 acre self-contained site. The service area is arranged around a central amenity building providing a range of roadside and convenience facilities, including fast food restaurants, coffee operators and convenience retail accommodation. The offering is complemented by a petrol filling station and electric vehicle charging infrastructure. Welcome Break have investigated significantly in the site and are currently implementing a third phase of EV charging.
-
TENANCY
The property is fully let to Welcome Break Group Ltd, with a long weighted unexpired lease term of 24.9 years to expiry and 23 years to break. The rent will be topped up to £822,454 per annum. The rent is subject to RPI linked reviews (1%-3%). Welcome Break have recently extended their commitment to the site by agreeing a long term lease on an additional parcel of land.