GE Pension Fund, advised by Cordatus Partners and Edgerley Simpson Howe, have disposed of the Aldi and Home Bargains in Carmarthen to Palmer Capital for £3.95 million. The capital value reflects a net initial yield of 7.03%.
The property comprises 26,169 sq ft let to Aldi for a further 8 years and Home Bargains for a further 10 years. The rents reflect £9.20 – £12.33 per sq ft. Aldi has a minimum uplift in 2014 which takes the yield to 7.5%.
Aldi has a food/bulky goods planning consent. Home Bargains has an open A1 non-food planning consent.
Palmer Capital were advised by Andrew Thomas and GVA Grimley.
For further information please contact Michael Radcliffe.