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Cardiff’s The Morgan Quarter Sold for £55m by LaSalle Investment Manager

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The Morgan Quarter has been purchased by International land organisation LaSalle Investment Manager, on behalf of the Greater Manchester Pension Fund. It incorporates more than 60 stores and has been procured from Helical, a property company. Helical had purchased the arcades and the previous David Morgan retail chain in 2005. David Morgan shut in that year, and more than 50 additional flats were built over the shops.

LaSalle said the Morgan Quarter was “a landmark building within Cardiff city centre providing a unique shopping environment that demonstrates our view of the future of high street retailing”.

The property portfolio has been sold by Helical , which procured it in 2005.

The firm was established by David Morgan (1833-1919) – The Morgan Quarter is 381,347 sq.ft. of mixed-use scheme in the centre of Cardiff incorporating retail, commercial and residential space. It has shops on both the Hayes and St. Mary’s Street, connected by two Victorian arcades, The Royal and The Morgan. The Morgan Quarter is home to retail shops including Molton Brown, Jack Wills, Urban Outfitters, Dr. Martens, Fred Perry and many more. Additionally home to the Creative Quarter, whose occupants include engineers HLM and free TV generation firm Bad Wolf and restuarants include some of the best eateries in Cardiff including Crumbs, Giovanni’s, Grazing Shed and many more.