Conygar has completed the sale of its 92,000 sq ft Cross Hands retail park in Llanelli, south Wales, for £18.2m.
The sale price reflects a £500,000 premium to the park’s September 2021 valuation.
Net proceeds from the sale will be used to help progress development of Conygar’s 36-acre Island Quarter project in Nottingham.
Conygar bought the 10-acre Cross Hands site in 2015 and since then has built and fully let it to retailers including Lidl, B&M, Iceland’s Food Warehouse, Costa Coffee and Pets at Home.
It provides an annual net rental income of £1.3m.
Freddie Jones, director at Conygar, said the disposal “reiterates our strategy of selling completed developments”.
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