Legal & General has paid £22.5m to Standard Life Investments, for its Port Road Retail Park, in Cardiff.
Standard Life developed the Culverhouse Cross site in 1998 and tenants include PC World, Currys, Allied Carpets and Kingdom of Leather. The annual rent roll is around £1.3m,
The deal fits in with L&G’s Life Fund’s strategy to acquire out-of-town retail assets in areas with a high critical mass.
EGi News 27/03/00
