Capital & Regional says its Capital Retail Park Partnership joint venture has sold the Costco unit at the Capital Retail Park in Cardiff for £16.95m.
In a stock exchange announcement today, the property asset manager declined to name the buyer but said it had exchanged contracts for the sale of the unit to a private investor.
The company said the sale price represented a net initial yield on contracted rent of 6.1%.
The Capital Retail Park Partnership is a 50:50 joint venture between C&R and PMG Estates, a local property developer.
C&R will use the sale proceeds to pay down the partnership debt.
