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Portfolio - Retail - Nantyffin

In July 2003, PMG acquired a complex multiphase investment/development opportunity from Capital & Regional plc. Phase 1 represented a completed 40,000 sq ft retail warehouse let to Comet and Allied Carpets. PMG has now developed Phase 2 which comprises 30,000 sq ft pre-let to MFI and SCS. Both phases have been sold to Skandia Life for £13m.

Nantyffin, Swansea

The agreement to pre-let part of Phase 2 to MFI enabled PMG to obtain vacant possession of Phase 3 which is currently occupied by MFI. Phase 3, together with an adjacent unit which was subsequently acquired, comprising a development site of 6 acres, was sold to Tesco for £9m after achieving planning consent in November 2004.