DTZ Investors has sold Parc Y Llyn Retail Park in Aberystwyth to Evolve Estates.
The scheme, which spans across 8.6 acres, comprises 87,916 sq ft of lettable floor space across seven buildings. It is is currently let to five tenants with a WAULT of 3.9 years to expiry.
The park was sold for £7.8m, reflecting an 8.7% yield on the £720,902 annual contracted income.
Ben Haller, director at DTZ Investors, said: “The asset sits outside of fund strategy, with the decision to disinvest and utilise the capital toward more core opportunities.
“Notwithstanding the risks, there is potential for the buyer to maintain an attractive income yield through the leasing cycle, as well as the opportunity for wider initiatives to enhance returns.”
XProp acted for DTZ Investors with HampsonWall representing Evolve Estates.
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