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The Darkgate Centre, Carmarthen SA31 1PS

Status: Sold

Date: 25 January, 2017

Type: Retail

Details: Download PDF

The Darkgate Centre, Carmarthen

In January 2017, Joiner Cummings acted on the sale of The Darkgate Centre, Carmarthen for APAM. The property was sold to LCP for £3.37m (9.8% Triple Net Yield)

  • Prominent multi-let town centre retail investment.
  • Located in prime position on the main pedestrian thoroughfare between St Catherine’s Walk and Merlin’s Walk Shopping Centres. Retailers in immediate vicinity include Boots, O2, Marks & Spencer and Superdrug.
  • Comprises 10 prominent retail units totalling 19,190 sq ft, with separately accessed offices totalling 16,612 sq ft NIA at 1st, 2nd and 3rd floors and a substantial rear car park for 35 cars.
  • 77% of total income from national multiples including Greggs, Clintons Cards,Café Nero, Santander, CEX and Ryman providing excellent diversity of income.
  • The retail element offers an attractive WAULT of 5.2 yrs to expiry/4.9 yrs to break.
  • Low rentals offer excellent potential for future growth.
  • Numerous asset management opportunities with potential to convert the upper parts to higher value uses including residential.