Summary - OCEAN PARK HOUSE, EAST TYNDALL STREET CF24 5ET
1 bed 1 bath Office
Substantial income-producing office with strong parking and city access.
Let in full to Associated Community Training Ltd until 9 Aug 2032
Ocean Park House is a substantial freehold office investment occupying circa 49,066 sq ft on a 2.06-acre site in a prominent Cardiff business location close to the city centre and good road links. The building benefits from 220 off-street parking spaces (approx. 1:223 sq ft ratio), large open-plan wings, a ground-floor café/breakout area and modern brick façade, offering clear occupational appeal for a single occupier or continued multi-tenant use.
The property is let in full to Associated Community Training Ltd (now part of Cardiff and Vale College) on a 20-year FRI lease from 10 August 2012, with rent passing of £425,000 pa and five-year upward-only reviews. The lease expires 9 August 2032 and includes a tenant break option on 31 July 2027; the tenant’s financial metrics supplied show strong trading performance and a high income analytics score.
Key investment considerations include the low quoted capital value of £102 per sq ft and an attractive income profile against a competitive headline price. The building was constructed in the early 1960s and, while structurally robust, parts of the accommodation are a mix of open-plan and cellular layouts which may require refurbishment to meet modern occupier standards. The FRI lease is subject to a schedule of condition, so responsibility for repair and compliance follows the lease terms.
Material location factors: the site sits in an urban cultural mix but in a very deprived neighbourhood with a very high crime score, which may affect occupational demand and rental growth. Connectivity is strong (excellent mobile signal and fast broadband) and the property has direct access to major routes including the A4232 and M4 links.
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