Cardales - Offices - Cardiff, Fitzlan Court, Hastings House

Date: 11 Aug 1998

Teachers Provident Purchase £2m Office Investment

The freehold office investment at Hastings House, Fitzlan Court, Cardiff has been acquired from Rolls Royce Motors Pension Fund by Teachers Provident for £2m reflecting a net initial yield of 7.7%.

The property is let to Eversheds, Friends Provident and Equitable Life on three leases expiring in September 2010 and currently produces a total annual rent roll of £161,250.

The building, constructed in 1990, comprises 1212 sq m (13,047 sq ft) on ground and four upper floors

Cardales represented the purchaser. Joiner Cummings acted for the vendor.

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