Briscombe Retail Park sold for £1.3 million
Briscombe Retail Park in Wales has been sold to a local private property company for £1.35 million.
Acting on behalf of VCD Asset Management, Savills sold the multi-let scheme which comprises of 3,847 square feet of accommodation. This is currently let to Greggs and CVS Veterinary Group at a current passing rent of £80,680 per annum.
Briscombe Retail Park is situated on the A4055 within the coastal town of Barry in the Vale of Glamorgan and is around seven miles south west of Cardiff.
Ross Griffin, director in the UK investment team at Savills Cardiff, said: “We had significant demand for Briscombe Retail Park as the property came with long income in excess of 10 years and had excellent road frontage with value add opportunities. The demand for longer income let assets remains particularly buoyant.”
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