Retail

Primark, St Mary's Square, Swansea 

 

Price: £9,600,000 - Initial Yield:5.25%

Date: Q1 2016

Acting on behalf of Eskmuir Properties we advised on the sale of this prime retail investment to a Private Investor for £9.6m, reflecting a net initial yield of 5.25%.

The property occupies a highly prominent standalone position opposite the main entrance to the Quadrant Shopping Centre and in close proximity to Oxford Street, the prime pedestrianised pitch. Let entirely to Primark Stores Limited (5A1 Covenant) for a term of 99 years (less 5 days) from 25th March 1979 providing an unexpired term of 62.4 years. The total current passing rent is £533,360 p.a, equating to £10.00 psf. The property is held long leasehold for a term of 150 years from June 2015 at a peppercorn rent.

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk


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