Parc Pensarn is well located in the Welsh market town of Carmarthen.
Carmarthen benefits from having a wide catchment area due to limited competition from any major retail centres; the 30 minute drive time extends to 184,724 people.
Easily accessible from the A484 in the prime retail pitch and is situated adjacent to a 60,000 sq ft Morrisons foodstore with petrol station.
Totals 20,503 sq ft arranged across the 3 units occupied by national retailers; Halfords, Poundstretcher and Laura Ashley. The current income totals £208,850 per annum equating to a low average rent of £10.19 per sq ft. The income increases by 7.2% to £223,850 per annum in September 2021 due to a fixed uplift in the Poundstretcher lease.
The retailers trade well here as evidenced by them all recently re-gearing their leases.
The park benefits from a bulky goods consent with relaxations in favour of Unit 1 (Poundstretcher).
We are instructed to seek offers in excess of £2,300,000 (Two Million and Three Hundred Thousand Pounds), subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 8.50% (assuming purchaser’s costs of 6.86%). The yield increases to 9.15% in September 2021 by virtue of the fixed uplift within the Poundstretcher lease.