Merthyr Tydfil - Beacons Place

S&A represented Sylfaen Limited, Welsh-based developers on the acquisition of this Town Centre scheme from the Welsh Development Agency. S&A’s advice on this project commenced in June 1995 in competition with other developers. As with most town centre schemes, it takes a considerable time to complete development agreements, land acquisition, construction of the scheme and lettings. Construction commenced in 2003 and part of the total site area of just over 5 acres was told to Tesco Stores on which they constructed a major new foodstore (66,900sqft). The development by Sylfaen comprises 12 shop units of two-storey construction in a covered mall between the High Street and the main car park for the town centre. S&A acted as joint letting agents on the scheme where occupiers include many national multiples (Gamestation, Stylo Barratt, C & J Clark, Mark One etc) and some regional retailers. Zone A rents range from between £30psf on the first letting to £52psf on the last, although the front unit on the High Street achieved approximately £68.50psf Zone A. S&A have now completed the investment sale of the shopping centre to Irish investors with a lot size of just under £8m at a net initial yield of 5.5%.