Orchard Street Investment Management LLP, a leading UK specialist commercial property investment manager, has let a recently vacated 14,892 sq ft unit at the Glamorgan Vale Retail Park, Llantrisant, to ASDA Stores Ltd for their new ASDA Living store.
ASDA will commence shop fitting early in September, and intend to be open for trading before Christmas.
The letting is for a 15 year lease, with a tenant’s break at the tenth year, at a rent of £23.50 per sq ft, with fixed increases at five yearly intervals.
Glamorgan Vale is a 116,500 sq ft destination retail park, located just north of Junction 34 of the M4, which comprises 12 units, including units let to Peacocks, JJB, Halfords, and Aldi.
Gary Felce, Chief Investment Officer of Orchard Street, said:
“We are delighted to have secured ASDA as a tenant for Glamorgan Vale Retail Park. The deal illustrates the increasing importance of Glamorgan Vale Retail Park for shoppers in the local area and ASDA Living will provide a welcome addition to the range of shopping options available in Llantrisant.”
Edgerley Simpson Howe acted for Orchard Street, and Atis acted for ASDA Stores Ltd.