Swansea shopping centre changes hands for £6.5m

Delancey Real Estate, an investment, asset, and development firm, has announced the successful sale of Swansea’s Quadrant Shopping Centre for £6.5m.

Lunson Mitchenall completed the sale on behalf of Delancey’s client, a major UK pension fund, to a Wales-based private investor.

The asset spans 200,000 sq ft and is anchored to tenants including Boots, WHSmith, and JD Sports, and links into Swansea’s indoor market and the city’s primary bus station.

The scheme – which sits adjacent to the former Debenhams and surrounded by the St David’s Place and Swansea Central North developments – represents a key site within Swansea City Centre.

Dan Berger, director of property and funds at Delancey, said: “This sale is another milestone in our journey of rebalancing away from real estate sectors such as secondary shopping centres and secondary offices. The transaction is an example of our proactive approach with one of the key pillars being our willingness to sell. We aim to provide our clients a high-quality, high conviction portfolio that is well placed to deliver over the long term.”

Chris Watt, director in Lunson Mitchenall’s investment team, added: “The sale represents a successful result for our client but also demonstrates increasing investor confidence into the shopping centre sector, particularly in regional locations outside of the South East”.

The sale is the latest divestment Delancey has completed on behalf of its client. Delancey was appointed to manage the fund’s core real estate portfolio in 2022, replacing the existing manager.