On behalf of pension fund clients, LaSalle Investment Management has acquired the freehold interest in the Pontarddulais Road Retail Park in Swansea for an anticipated price of approximately £24.2 million, reflecting a net initial yield of 6.6%. The retail park extends to approximately 80,000 sq ft, with occupiers being M&S Simply Food, Dreams, Carpetright, Pets at Home, Laura Ashley, Argos and Currys/PC World, with new lettings to Hobbycraft and Poundworld. Rents range from £17.50 per sq ft to £25.00 per sq ft, with the majority of leases expiring between 2019 and 2026. The scheme benefits from a flexible restricted consent.
Wilkinson Williams acted on behalf of LaSalle Investment Management.
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