HPPUT, represented by Helix Property Advisors, has sold the investment of 455 Newport Road, Cardiff to a private investor for £4.775m.
The 28,259 sq ft out of town retail property is let to Jewson, the building materials supplier, and B&M, the variety retailer, and produces an annual income of £320,000. The transaction reflects a net initial yield of 6.3%.
Helix Property Advisors’ Catherine Jenkins said: “The wider transformation and regeneration of Cardiff has raised its profile as a retail destination with both retailers and investors. The sale of this substantial asset is part of our client’s strategic portfolio management programme and we will be looking to reinvest in other regional properties in the near future.”
Helix Property Advisors was represented by MacArthur Wilson. The purchaser was advised by JLL.