Liverpool Victoria forward funds Pontardawe retail warehouse scheme
Published: 20 November, 2006
Liverpool Victoria Friendly Society is forward funding the development of an edge of town retail park in Pontardawe, near Swansea.
The scheme comprises a 25,000 sq ft retail warehouse unit, pre-let to Focus DIY, together with a further four speculative units totalling 21,000 sq ft.
The property, which is expected to have an open A1 non-food consent, has been purchased freehold from Liberty Properties, which will continue to act as developer. The expected end-value of the scheme will be £9.5m, reflecting a 5.25 per cent net initial yield.
The fund was advised by Edgerley Simpson Howe & Partners. Letting agents for the speculative phase are EJ Hales and Green & Partners.