Quoted retail warehouse specialist Edge Properties has forward sold a 3,112 sq m (33,500 sq ft) development in Cardiff to Save & Prosper for £6.8m.
The retail warehouse scheme, in Newport Road, is substantially pre-let at £150.70 per sq m (£14 per sq ft). Pet City and Byte Computers have between them taken 2,183 sq m (23,500 sq ft). Edge has given a rental guarantee of £140,000 pa on the remaining space for three years if it remains unlet at completion in April.
The scheme is being developed by Edge’s 51%-owned subsidiary Edge Developments Cardiff. The remainder of the company is owned by Culver Holdings.
Edge and Save & Prosper were both unrepresented.
EGi News 10/01/97
