Property news - Carmarthen sale agreed

Audley Developments has agreed the forward sale of the Carmarthen Retail Park in Stephen's Way, Carmarthen, to Newport Holdings for an estimated£9.9 million. The 52,500 sq ft (4,875 sq m) development has been pre-let to Matalan, Richleys and Pets at Home at rents of between£13 and£14 per sq ft (£140 and£150 per sq m) on leases of 15 and 25 years. The purchase price reflects a net initial yield of 6.75 per cent. Wilkinson Williams acted for Audley Developments.