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Baglan Bay Estates Company's retail park investment in Port Talbot, currently let to 99p Stores Ltd and Lloyds Pharmacy, has been sold for £2,820,000 in a deal arranged through Fletcher Morgan, who advised the vendors, and Gavin Duncan Associates, who represented the purchasers.
The retail units have open A1 and A3 planning consent and comprise 27,761 sq ft in total. The rental income produced from them is around £264,802 per annum, which equates to a net initial yield of 8.87 per cent.
99p Stores Limited has a lease that expires in 2022, while Lloyds Pharmacy's lease expires in 2029.
Written by Richenda Oldham
9 Jan 2017
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