Legal & General Assurance Society has bought Standard Life Investments’ Port Road retail park in Cardiff for £22.5m. The 6,968 sq m (75,000 sq ft) scheme produces £1.3m pa and the deal reflects an equivalent yield of 5.9%
Tenants at the scheme include Curry’s, PC World, Allied Carpets and Kingdom of Leather.
Stephen Mundy of Legal & General said: “This purchase is in line with our strategy to buy well located, out of town retail assets in areas of good critical mass.”
FPDSavills represented Standard Life while Healey & Baker acted for L&G.
EGi News 05/04/00
