X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-A consortium of Danish private investors has spent £2.11 million ($3.2 million) on a retail investment in Cardiff, Wales, as part of its plan to build up a £50 million ($77 million) UK portfolio. The latest purchase is at 8 Westgate Street, where the 14,658 sf unit is leased to Yates Wine Lodge at £150,000 ($230,000) per annum on a 35 year lease from 2000 with a fixed uplift on the first review. The purchase price shows a net initial yield of 6.7%.

Robertshaw March Jones acted for the vendor, Delancey, and Strutt & Parker advised the purchasers. Strutt & Parker Partner Richard Harris said: “This is the latest in a long line of investment deals totalling £15 million ($23 million) to date and is part of a £50 million ($77 million) UK investment programme. The Danish investors are particularly interested in retail, leisure and industrial opportunities on lease terms in excess of 20 years.”

Previous deals include retail investment in Halifax, West Yorkshire and Leatherhead, Surrey.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.