The Junction sells in Swansea
Published: 27 June, 2011
Morfa Shopping Park in Swansea sold for £80m
Capital & Regional's Junction Fund has sold Morfa Shopping Park in Swansea to The Crown Estate for £80.2m. The sale price reflects a 5.80 per cent initial yield,
The Junction Fund has owned Morfa Shopping Park Swansea since 2006. During this period the scheme has become fully let, completed by the recent letting of 30,000 sq ft to DSG for a combined Currys and PC World store.
The Junction Fund has disposed of the property as part of its strategy to focus on those properties that have greater asset management or development opportunities.
The sale of Morfa Shopping Park Swansea is the fourth disposal by the Junction Fund since the start of 2010, and the second to The Crown Estate following Ocean Retail Park Portsmouth in March 2011.
The deal means the fund's bank debt will have been reduced by 54 per cent since May 2009.
