Units 1-5 Holden Road, Leckwith, Cardiff

Units 1–5 Holden Road offers a rare chance to acquire a reversionary multi‑let industrial estate in one of Cardiff’s most established commercial locations. The estate sits just off Hadfield Road, a long‑standing hub for trade, industrial and roadside operators, and benefits from excellent access to the city centre, the A4232 and the wider motorway network. The surrounding area is home to a strong mix of national occupiers including Selco, Toyota, Jaguar Land Rover, Mini, Nissan, Mazda, Toolstation and Royal Mail, reinforcing the strength of the location and the depth of occupier demand.

The property extends to approximately 1.533 acres and provides five detached light industrial units, together with a large secure yard. Site coverage is exceptionally low at just over 22%, giving the estate a spacious feel and offering flexibility for future asset management or redevelopment. Units 1, 4 and 5 were built between 2002 and 2004, while Unit 3 was added in 2023. All are steel portal frame buildings with profiled sheet cladding. Unit 2 is a secure open storage compound of around 0.46 acres with a partially open, fully covered steel structure. The site is fully fenced and benefits from mains water and three‑phase electricity.

The estate totals 14,937 sq ft of built accommodation. Unit 1 extends to 3,186 sq ft and is occupied by Williams Porsche Specialists. The tenant is holding over on an FRI lease inside the 1954 Act, paying £25,800 per annum, with an ERV of £27,900. Unit 2, comprising 2,860 sq ft plus the secure yard, is currently vacant. The ERV is assessed at £35,000 per annum, and the previous rent was £28,800. Unit 3, at 2,519 sq ft, is let to Complete Weed Control (South and Central Wales) Ltd, a low‑risk covenant with a CreditSafe rating of 67. The tenant is holding over, paying £17,400 per annum, with an ERV of £17,633. Unit 4, also let to Complete Weed Control, provides 3,186 sq ft and produces £18,000 per annum against an ERV of £27,081. The tenant is again holding over on an FRI lease. Unit 5, extending to 3,186 sq ft, is let to Orbit Theatre Limited, which has a moderate‑risk rating of 43. The tenant is holding over and pays £16,200 per annum, with an ERV of £27,081.

In total, the estate produces £77,400 per annum, with a fully let ERV of £134,695.

This significant reversionary potential is one of the key attractions of the opportunity. Much of the income is under‑rented, and the vacant yard at Unit 2 provides an immediate opportunity to drive value. The holding‑over status of several tenants also creates flexibility for re‑gearing leases, capturing rental growth and improving the overall income profile.

The property is held on a 99‑year long lease from Cardiff Council, commencing 31 March 2000, leaving approximately 73 years unexpired. The ground rent is a peppercorn, making the tenure effectively equivalent to a virtual freehold for most investors. The title number is CYM154465. The property has been elected for VAT, but the sale is expected to qualify as a Transfer of a Going Concern.

Cardiff itself continues to grow as a major UK regional centre. With a population of more than 367,000 and a wider metropolitan area exceeding 1.1 million people, the city benefits from strong economic fundamentals, a diverse employment base and ongoing investment. Cardiff Central Station provides direct rail services to London, Birmingham, Manchester and Bristol, with London reachable in around two hours. The M4 motorway lies to the north of the city, and the A4232 provides fast access to Junction 33. The subject property is approximately one mile from the city centre via Penarth Road, making it highly accessible for both trade and industrial occupiers.

The immediate area around Hadfield Road and Penarth Road is one of Cardiff’s most established commercial clusters. It accommodates a mix of retail warehouse, leisure, trade counter and automotive uses, alongside traditional industrial stock. This blend of uses creates a strong and resilient occupier market, with consistent demand for well‑located units and secure yard space. The low site coverage at Holden Road, combined with the mix of unit sizes and the presence of a large secure compound, positions the estate well for a range of occupiers, from trade and automotive to storage, distribution and specialist operators.

The construction quality of the units, particularly those built between 2002 and 2004 and the more recent Unit 3, provides a modern and functional specification suitable for a wide range of uses. The secure nature of the site, with full perimeter fencing and good circulation space, enhances its appeal. The absence of a gas supply is typical for this type of estate and does not detract from its suitability for most light industrial and trade uses.

From an investment perspective, the estate offers a compelling combination of income security, rental growth potential and long‑term flexibility. The presence of a strong covenant across two units, combined with established local operators in the remaining units, provides a stable base of income. The under‑rented nature of several units, together with the vacant yard, creates clear opportunities to enhance value. The long leasehold structure, with a peppercorn ground rent and more than seven decades remaining, provides long‑term security without the cost burden associated with some leasehold interests.

The pricing of £1,495,000 reflects an attractive reversionary yield of 8.47%, assuming purchaser’s costs of 6.31%. Given the strength of the location, the low site coverage, the reversionary profile and the long leasehold tenure, the opportunity represents strong value in the current market. Industrial and trade assets in Cardiff continue to perform well, with limited supply and strong occupier demand supporting rental growth. The estate’s location within one of the city’s most established commercial corridors further enhances its appeal.

Overall, Units 1–5 Holden Road presents a well‑balanced investment with both immediate income and medium‑term value‑add potential. The combination of location, site characteristics, tenant mix, reversionary upside and secure tenure makes it a compelling opportunity for investors seeking exposure to the Cardiff industrial and trade market. The estate is available strictly by appointment through Emanuel Jones.