Ing Real Estate, acting for Skandia Life Assurance Company, has agreed to purchase and part-forward fund Llansamlet Retail Park for £15.1 million, reflecting a net initial yield of 6 per cent.

The 70,000 sq ft (6,503 sq m) scheme in Nantyffin Road, Swansea is being developed in two phases by PMG Developments, and is at present let to Comet, Allied Carpets, MFI and ScS on 25-year leases at between £14 to£17 per sq ft (151 to £183 per sq m). Strutt & Parker represented ING Real Estate and Skandia Life Assurance.

Cushman & Wakefield Healey & Baker acted on behalf of PMG Developments.

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