Fletcher Morgan advises on Baglan Bay investment

Fletcher Morgan has advised Baglan Bay Estates Co on the sale of the Baglan Bay Retail Park Investment let to 99p Stores Limited and Lloyds Pharmacy. The retail units have open A1 and A3 planning consents and comprise some 27,761 sq ft in total. 99p Stores Limited occupy under a lease expiring in 2022 and Lloyds Pharmacy in 2029. The rental income produced is some £264,802 pa and the sale price achieved of £2,820,000 equates to a net initial yield of 8.87%. The purchasers were represented by Gavin Duncan Associates.