Cwmbran Retail Park sold for £32 million

First published in News

CWMBRAN Retail Park has been sold for more than £32 million.

British Land, one of Europe’s largest real estate investment trusts, announced the sale of the retail park on its website yesterday.

It has been sold to financial firm UBS for £32.3 million, a net initial yield of 6.4 per cent British Land said.

A spokeswoman for the company, who bought the retail park in 2001, said the effect on users would be minimal.

“Shoppers won’t notice any difference at all day-to-day,” she added.

The company said a retail park in Dumbarton, brought its total income from the sales to £78 million.

Cwmbran Retail Park – originally Lock Gate Retail Park – is a 136,000 sq ft area, with B&Q, Next, TK Maxx, Brantano, Currys/PC World and Pets at Home among the 11 retailers housed there.

It is located on the western edge of the town centre and off Cwmbran Drive.

Charles Maudsley, head of retail for British Land, said: “These sales are in line with our strategy to further focus our retail portfolio on high quality, locally preferred shopping destinations. Over the last 12 months, we have sold £386 million of retail assets which is broadly matched by the acquisitions we’ve made.”

British Land was represented by Savills in the sale.

British Land has total assets in the UK, owned or managed, of £17.1 billion.

It says on its website: “Through our property and finance expertise we attract experienced partners to create properties and environments which are home to more than 1,000 different organisations and receive more than 300 million visits each year. Our property portfolio is focused on the UK, in prime retail locations and London offices which attract high quality occupiers committed to long leases.”

Further details at britishland.com

Comments (4)

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10:10am Thu 1 May 14

displayed says...

Our property portfolio is focused on the UK, in prime retail locations and London offices which attract high quality occupiers committed to long leases.”

Why did they need to sell it, as often the new owners have there own ideas and frequently bring in changes, next thing;
The rents go up, leaseholds become shorter and the place goes downhill and eventually empty!
We shall see.................
.....
Our property portfolio is focused on the UK, in prime retail locations and London offices which attract high quality occupiers committed to long leases.” Why did they need to sell it, as often the new owners have there own ideas and frequently bring in changes, next thing; The rents go up, leaseholds become shorter and the place goes downhill and eventually empty! We shall see................. ..... displayed
  • Score: 7

11:19am Thu 1 May 14

Aquarius says...

Yes, we certainly will see.

I wonder how long before they introduce parking charges?
Yes, we certainly will see. I wonder how long before they introduce parking charges? Aquarius
  • Score: 7

10:24am Fri 2 May 14

Floppy backed says...

Aquarius wrote:
Yes, we certainly will see.

I wonder how long before they introduce parking charges?
They wont. Out of town retail relies on driving there - its the principle of the business no different to anywhere in the country.

Agree these rents mean that these parks are clones they only attract the big retailers, a small or specialist shop couldnt take on rents like this sadly pushing out fabulous retailers who can offer unique items/services.

I find shopping at places like this souless and boring.
[quote][p][bold]Aquarius[/bold] wrote: Yes, we certainly will see. I wonder how long before they introduce parking charges?[/p][/quote]They wont. Out of town retail relies on driving there - its the principle of the business no different to anywhere in the country. Agree these rents mean that these parks are clones they only attract the big retailers, a small or specialist shop couldnt take on rents like this sadly pushing out fabulous retailers who can offer unique items/services. I find shopping at places like this souless and boring. Floppy backed
  • Score: 1

12:42pm Tue 27 May 14

S_James123456 says...

They already have. This morning at 9:10am I parked in the Retail Park. Went to Clintons and then B&Q. Back to the car at 10:10am and have a parking ticket. £85.
Won't be visiting again.
They already have. This morning at 9:10am I parked in the Retail Park. Went to Clintons and then B&Q. Back to the car at 10:10am and have a parking ticket. £85. Won't be visiting again. S_James123456
  • Score: 0

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