Delancey Real Estate has sold The Quadrant shopping centre in Swansea for £6.5m to a Welsh-based private investor.
The 200,000 sq ft long leasehold scheme is anchored by Boots, WH Smith and JD Sport and occupies a key site in the city centre.
The sale is the latest divestment to have been completed on behalf of Delancey’s UK pension fund client. Delancey was appointed to manage the fund’s core real estate portfolio in 2022 following a competitive tender process.
Dan Berger, director of property and funds at Delancey, said: “This sale is another milestone in our journey of rebalancing away from real estate sectors such as secondary shopping centres and secondary offices. The transaction is an example of our proactive approach with one of the key pillars being our willingness to sell. We aim to provide our clients a high-quality, high conviction portfolio that is well placed to deliver over the long term.”
Chris Watt, director in Lunson Mitchenall’s investment team which acted for Delancey on the deal, added: “The sale represents a successful result for our client but also demonstrates increasing investor confidence into the shopping centre sector, particularly in regional locations outside of the South East.”
