Savills, on behalf of the Charnwood Group, have sold a trade counter investment on Pentrebach Road near Merthyr Tydfil in South Wales to a private investor who was represented by GVA. The transaction reflected a net initial yield of 8.50%.
The trade counter totals 7,013 sq ft (652 sq m) and is currently let to Topps Tiles, Speedy Hire, and ARC Car Wash. The average unexpired lease term is four years and the asset currently generates an annual income of £76,455 per annum.
Ross Griffin, director of Savills in Cardiff, comments: “This asset provides sought after trade counter space in a strong location near Merthyr Tydfil. With the potential for healthy yields, we received a high amount of interest and we are very pleased with the price secured for our client.”
Tom Merrifield, head of agency for GVA Wales, adds: “The acquisition represented an opportunity for my client to increase their holding in the area which includes ownership of nearby Merthyr Tydfil Industrial Estate, another main road fronting trade counter location. The units at Pentrebach Road are positioned in a prominent position and house tenants who present as strong covenant operators who have been established in the town for a number of years.”