Cardiff Waitrose store changes hands for £12.35m
A Waitrose supermarket in Cardiff has been acquired by a local property company from an institutional fund owner for £12.35m.
Located in Pentwyn, approximately five miles northeast of the city centre, the property occupies a prominent position within an established retail and residential catchment.
The freehold property is let to Waitrose on a recently regeared 15-year lease, providing long-term income and fixed rental growth.
The acquisition was completed following a competitive sales process that began earlier this year, with the buyer ultimately agreeing terms in July before progressing to exchange within approximately three months.
Prideview acted on behalf of the purchaser alongside Emanuel Jones.
Pritesh Patel, investment director at Prideview, said: “This was a rare opportunity to acquire a high-quality, foodstore-backed investment with secure long-term income and fixed rental growth. The asset was particularly attractive given its strategic location alongside our client’s existing ownerships in the area, creating opportunities for long-term asset management and portfolio consolidation.
“Having tracked the opportunity throughout the sales process, we were able to react quickly when it became available again and successfully secure the acquisition.”