Powell Lloyd Ltd, the Welsh arm of PAI, has recently completed the purchase of Briscombe Retail Park in Barry, Vale of Glamorgan.  The purchaser, a local private property company, paid £1.35 million reflecting a net initial yield of 5.63%.  

The multi-let retail park comprises 3,847 sq ft (357 sq m) of accommodation and is let to Greggs PLC and CVS Veterinary Group at a current passing rent of £80,680 per annum.

Briscombe Retail Park is situated on the A4055 (Cardiff Rd) which is one of the main arterial roads into Barry. The Property is located within the coastal town of Barry in the Vale of Glamorgan, approximately seven miles south west of Cardiff. Junction 33 of the M4 motorway is eight miles to the north and Cardiff International Airport is approximately two miles to the east.

James Sanders, Director at Powell Lloyd commented ”The asset provides strong and long income for our retained client.  Having recently sold their management intensive portfolio we are now replacing with some more secured income assets.  This property boasts over 10 years income to Greggs and CVS Vetinary Group and has excellent road frontage”

Savills acted on behalf of the vendor, VCD Asset Management.