Junction 47 Retail Park, a prime retail warehouse investment located in Swansea has recently been sold for £1.7 million.
Acting on behalf of CBRE Global Investors, Emanuel Jones has successfully sold the freehold interest of Junction 47 Retail Park, Swansea to a private investor.
The park consists of three self contained units occupied by Farmfoods, Poundstretcher and the Pet Hut, producing a combined passing rent of £163,430 per annum
The sale reflects a net initial yield of 9.04% assuming purchasers’ costs of 6.24%.
David Williams, Partner at Emanuel Jones commented: “Given the current uncertainty in the market we are pleased to have secured a timely sale of Junction 47 Retail Park. The sale demonstrates there’s still appetite for retail in popular locations let to good covenants.”
Jason Thorne, Director of Lambert Smith Hampton and advisor to the purchaser commented: “My client is a locally based investor and has a lot of confidence in the location and future potential of well positioned Swansea Investments.”