Evolve Estates acquires dominant Aberystwyth retail park

Parc-Y-Llyn Retail Park has joined its rapidly growing retail portfolio after it was acquired for an undisclosed sum.

The retail park is conveniently located about 1.5 miles from the town center and a short walk away from both the Welsh government offices and Ceredigion County Council offices.

Comprising six units over 8168 sq m, the tenants are Next, B&M, Currys/PC World, Halfords and Charlie’s Stores, with just one unit of 931 sq m being vacant.

“We remain committed to investing in retail, from individual shop units to larger town center destinations, because we see this as a strong market to be involved with and we are seeing excellent returns on our investments. We have a strong reserve of cash funds, which means we can react quickly when something comes to market that we are interested in, and this has helped us grow our portfolio significantly. As intensive asset management specialists, we’re looking forward to putting in place plans that will add value to the site”, says Sebastian McDonald-Hall, founding partner of Evolve and chief investment officer of M Core.

Responsible for the leading of the site´s asset management will be Chris Daly.

M Core has invested more than £160 million over 12 months in 25 retail centers. Major acquisitions include Cwmbran Centre, Cwmbran; The Galleries, Washington, Sunderland; and Three Spires in Lichfield.