Evolve Estates has acquired the Parc-Y-Llyn Retail Park in Aberystwyth for an undisclosed sum.
The 87,916 sq ft park comprises six units occupied by Next, B&M, Currys/PC World, Halfords and Charlie’s Stores. One unit of 10,018 sq ft is currently vacant at the park, which is located around 1.5 miles from the town centre.
Sebastian McDonald-Hall, founding partner of Evolve and chief investment officer of M Core, said: “We remain committed to investing in retail, from individual shop units to larger town centre destinations, because we see this as a strong market to be involved with and we are seeing excellent returns on our investments.
“We have a strong reserve of cash funds, which means we can react quickly when something comes to market that we are interested in, and this has helped us grow our portfolio significantly. As intensive asset management specialists, we’re looking forward to putting in place plans that will add value to the site.”
M Core has invested more than £160m over the last 12 months in 25 retail centres and it has £300m available to invest in assets ranging from £500,000 to £30m and portfolios up to £150m.
LCP’s solicitor was Clarke Willmott and the agent was Hampson Wall. XProp acted as agent for the private vendor and its solicitor was CMS.
