The Crown Estate has sold the long leasehold interest in the Morfa Shopping Park in Swansea to a joint venture between Ashby Capital and Quadrant Estates for a price of £83.45 million.
The park, which extends to 339,000 sq ft, comprises a B&Q Warehouse, Currys and an open A1 element occupied by Outfit, Poundland, Boots, New Look, Argos, Next, Sports Direct and TK Maxx. The most recent letting on the park was to Poundland at a rent of £37.50 per sq ft. The purchase price reflects a net initial yield of 5.99%.
Wilkinson Williams acted for The Crown Estate.
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