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Quintain’s purchase of leasehold interest ensures control of Dominions House, Cardiff

Quintain Estates has paid Storehouse Pension Schemes £5.5m for the head leasehold interest in two large retail units in Dominions House, Queen Street, Cardiff. The deal means Quintain now has complete control of the investment. A month ago Quintain acquired the freehold of Dominions House for £7.5m.

The retail units, totalling 2,245 sq m (24,167 sq ft), are let to Lloyds Bank and Burton Group Properties and generate a total of £517,000 pa on leases which expire in 2020 and 2015 respectively.

In September, Quintain bought the freehold of Dominions House for £7.5m from Davstone Holdings. The property comprises 4,794 sq m (51,600 sq ft) of offices, another four retail units, and a shopping arcade. Overall, the investment generates £985,000 pa.

EGi News 04/11/96

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