Property and development investment company Barberry Group has bought two retail parks in Swansea, South Wales, from international asset management company Threadneedle for £10.3 million.
The 7.9 acre site, part of Swansea Enterprise Park, includes the Phoenix and Lion Way Retail Parks, located to the north of the city with access to the M4.
The two retail warehouse parks, which were constructed in 1985, total 95,000 sq ft with 359 car parking spaces.
At present only 21 per cent of the site is covered so the company has the option of developing additional units on site in future.
Jon Bellfield, director of Barberry Group, said: “There is the opportunity to further invest in the retail parks in order to bring the units up to contemporary standards and we anticipate this being part of our future plans.”
Lambert Smith Hampton acted for the Barberry Group with King Sturge acting for Threadneedle.