A CARMARTHENSHIRE shopping centre has sold at auction for £2.25m.
Selling above its guide price of £2m, St Elli shopping centre in Llanelli, sits on a 7.69-acre site and includes an Asda and 450 space car park. It is let to occupiers including Sports Direct, Wilkinson's, Greggs, Card Factory, Poundland and Principality Building Society, with gross rental income of £632,677.
Acuitus Director, Charlie Powter, said: “Shopping centres and retail arcades with substantial town centre footprints are attractive to private investors and property companies for the potential to increase net income by re-letting to new occupiers at rents that are affordable.
"Asset re-pricing is allowing new owners to re-set rents to sustainable levels. Reducing voids not only increases the rents received but also has an immediate impact on net income by eradicating rates and service charge shortfalls."
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