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Portfolio - Residential Brownfield - Marks & Spencer

This 130,000 sq ft distribution depot was purchased from Threadneedle for £7.5m in January 2003.

Let to Marks & Spencer, the 8 acre site is adjacent to a business park in a predominantly residential area of North Cardiff. PMG negotiated a surrender of Marks & Spencer’s outstanding 18 year leasehold interest in the site, resolved various restrictive covenants with the WDA and successfully gained planning consent for 170 residential units. The site was subsequently sold on to Persimmon Homes.