A prominent local property investor has acquired the Waitrose supermarket in Pentwyn, Cardiff, adding a major retail investment to its growing portfolio in the area.
The property comprises a detached single-storey Waitrose foodstore extending to approximately 40,000 sq ft in a prominent location within the Pentwyn district of Cardiff.
The asset was recently re-geared, with Waitrose agreeing a new 15-year lease from 2024, providing long-term income security supported by one of the UK’s strongest supermarket covenants. The property currently generates rental income of £750,000 per annum and benefits from fixed uplifts every five years throughout the lease term.
The investment was marketed at a quoting price of £12 million, with the purchaser completing the acquisition for a figure in excess of the asking price, underlining continued investor appetite for prime foodstore assets offering secure income and rental growth.
The purchaser was advised by Cardiff-based chartered surveyors Emanuel Jones alongside commercial investment specialists Prideview. The vendor, an institutional fund, was represented by Glenlyon Real Estate.
Rhys Williams, Partner at Emanuel Jones, said:
“This was an opportunity we had been monitoring for some time. The combination of a long lease commitment from Waitrose, fixed rental growth and the property’s strategic location made it an attractive acquisition for our client.
The purchase further strengthens our client’s presence in the area and reflects continued confidence in well-let retail assets supported by strong occupier fundamentals.”
This transaction highlights the ongoing demand for high-quality supermarket investments, with investors continuing to target assets offering secure income streams and strong tenant covenants despite wider market uncertainty.