Pembroke Dock is a historic port town located approximately 60 miles west of Swansea. For centuries it has served as the waterfront area for the county town of Pembroke – which is 1 mile to the south-east.  The combined population of Pembroke Dock and Pembroke being 16,500, which is boosted significantly throughout the year by a strong tourism base with over 6.3 million visitors to Pembrokeshire annually.

The retail parade is situated within a modern retail park where the adjoining occupiers include a Tesco Superstore and Petrol Filling Station, Farmfoods, B&M and McDonalds, with KFC and Travelodge opposite.  The property was developed by our client Morbaine, as part of a comprehensive scheme including the Tesco Superstore, PFS and McDonalds.

The property comprises a terrace of 3 retail warehouse units totalling 24,511 sqft with an adjacent plot alongside.  Unit 1 is a double unit occupied by Argos, Unit 2 is occupied by Sue Ryder and Unit 3 by Peacocks.  The total rent received is £238,000 per annum.  There are 79 dedicated car parking spaces with loading access at  the rear. To the side of Unit 3 is the implemented development site.

Offers sought in the region of £3,175,000 (Three Million, One Hundred and Seventy Five Thousand Pounds) – subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of 7.73% applying £300,000 to the consented retail site and assuming purchaser’s costs of 7.12%