Three North Wales shopping parks sold in major retail deal

Three shopping parks in North Wales have been sold. American real estate conglomerate Realty has agreed to buy 11 retail parks from Ediston Property Investment Company.

The deal is for just over £200m and was signed off by the Ediston board at the end of last month. It includes three sites in North Wales - Parc Prestatyn[1], Clwyd Retail Park in Rhyl, and Plas Coch Retail Park in Wrexham[2].

Parc Prestatyn includes brands like Marks and Spencer, TK Maxx and Next and was bought by Ediston in 2017. The firm had bought Plas Coch in 2015 and the shopping park recently secured M&S as tenants.

Realty has been asked to comment on its investment plans for the sites.

William Hill, chairman of the Ediston, said: "The board was very pleased with the interest shown in the company, with proposals being received from a number of potential counterparties. Having considered multiple options, and after detailed analysis, the Board determined a sale of the Property Portfolio to Realty Income was the best means of maximising Shareholder value."

Join North Wales Live's WhatsApp community for the latest top stories and breaking news, sent to your phone

North Wales Live is now on WhatsApp and would like to invite YOU to join our community. Through the app, we'll send you the latest breaking news and top stories.

To join our community, you need to already have Whatsapp. Then all you need to do is click this link and select 'Join Community'[5].

No-one will be able to see who is signed up and no-one can send messages except the North Wales Live Team. We also treat our community members to special offers, promotions and adverts from us and our partners.

If you don't like the community, you can check out any time you like. To leave, just click on the name at the top of your screen and click 'Exit Group'.

If you’re curious, you can read our Privacy Notice[6].

Click here to join the WhatsApp community.[7]

References

  1. ^ Prestatyn (www.dailypost.co.uk)
  2. ^ Wrexham (www.dailypost.co.uk)
  3. ^ Couple stayed at Llandudno's worst rated hotel and there was only one thing they liked (www.dailypost.co.uk)
  4. ^ Welsh Government minister issues statement on 20mph speed limit in Wales (www.dailypost.co.uk)
  5. ^ all you need to do is click this link and select 'Join Community' (chat.whatsapp.com)
  6. ^ Privacy Notice (www.reachplc.com)
  7. ^ Click here to join the WhatsApp community. (chat.whatsapp.com)