Property News - LxB Properties pays out £15m for Llanelli park

LxB Properties, the fast-growing out-of-town retail investor backed by Tom Hunter's West Coast Capital, Baugur and Bank of Scotland, has forward-purchased the Parc Trostre South retail park in Llanelli from Hawk Property Holdings for£14.75 million, reflecting a net initial yield of 6.25 per cent.

The 77,200 sq ft (7,170 sq m) development, opposite the Parc Trostre Retail Park and Tesco foodstore, has been pre-let to B&Q, Dreams, Pets at Home and KFC at rents be-tween£10.50 and£15 per sq ft (£115 and£160 per sq m).

Wilkinson Williams represented LxB Properties. Beaumont Woolf and DTZ Tie Leung acted for Hawk Property.