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Recent investment Transaction

LondonMetric JV buys Welsh retail park - July '14

12th August 2014

LondonMetric Property and Universities Superannuation Scheme joint venture has exchanged contracts to buy Trostre South Retail Park in Llanelli. The Metric Income Plus Partnership will pay charity Benesco £12.8m, reflecting a net initial yield of 6.8%.The 75,400 sq ft retail park is let to B&Q, Pets at Home and KFC. It has a vacant unit of 10,000 sq ft, formerly let to Dreams, which is subject to a two-year rental guarantee.The average rent is £12.10 per sq ft and the unexpired lease term is 14.7 years. The park is adjacent to the 450,000 sq ft Trostre Shopping Park anchored by Tesco, M&S, Next, Debenhams and BHS.Edgerley Simpson Howe advised MIPP. Harvey Spack Field/Metrus advised Benesco.