The Crown Estate have purchased the long leasehold interest in Morfa Shopping Park, Swansea from The Junction for a price of £80.566 million, reflecting a net initial yield of 5.82%.
The scheme forms part of a larger development also comprising a Morrisons foodstore and the Liberty Stadium, home to the Ospreys rugby union team and Swansea City football club. The property comprises a modern retail park currently divided into 16 retail units, 2 fast food restaurants, 2 nearby standalone restaurants and a more recent pod development providing 3 ground floor retail units and a first floor coffee shop. The scheme has a mixed planning consent and is let to a wide variety of tenants, including Peacocks, Brantano, Boots, New Look, Currys PC World Megastore, B&Q, Argos, Next, Sports Direct, TK Maxx, Pizza Hut, Carphone Warehouse and Game.
Wilkinson Williams acted on behalf of The Crown Estate and The Junction was represented by Cushman & Wakefield.
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