The building housing one of Cardiff’s best known fast food restaurants is up for sale with a £2.16m plus price tag.
78 Queen Street, at the junction of Queen Street and Charles Street, is let to Jollibee on a 15 year lease. The restaurant opened its latest outlet in the summer. Jollibee has over 1,400 restaurants worldwide, with UK venues, as well as Cardiff, including those in Leicester Square, Earls Court, Leicester, Leeds, Liverpool,, Edinburgh and Reading. It is plans to add 50 more restaurants across the UK by 2025.
The property investment price tag reflects a net initial yield of 6.25%. It has been brought to market by commercial property agents Cooke & Arkwright.
Nick Lawley, investment director at Cooke & Arkwright and sole marketing agent for the property said: “78 Queen Street has been one of the best know fast food destinations in Cardiff city centre for decades and our client was delighted to secure Jollibee as tenant on a new long term lease.
“This investment opportunity offers an investor a long term income stream from one of the biggest global fast food operators and at a yield that looks attractive in comparison to the returns currently offered by other asset classes.”
Cooke and Arkwright is acting for current owner of the building Savills Investment Management.
