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Published: 5 August 2017      

Port acquires retail park in Milford Haven

The UK Port of Milford Haven has acquired Metric Property Milford Haven Limited, owner of the long leasehold interest in the Havens Head Retail Park, in the town

The value of the acquisition is £15.3M and will add around £1M per annum to the port’s operating profit. The port already owns the freehold of the site, but through this acquisition will now handle all aspects of its on-going property management as well.

The purchase from London Metric Property plc forms part of the port’s diversification strategy and aims to strengthen and create new employment opportunities in Milford Haven.

“This is a significant step in our diversification strategy,” said Alec Don, the port's CEO. “The investment forms part of a conscious effort to increase the quality and diversification of our earnings. Our retail offer now includes larger existing units as well as the exciting prospective developments at Milford Waterfront."

Havens Head Retail Park is immediately adjacent to Milford Waterfront and gives the port a much more substantial stake in the development of Milford Haven as a successful retail and leisure destination."


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