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Business Parks News and Deals

Wentloog
Acting on behalf of Greenhill Estates, the Cardiff offices of DTZ and GVA Grimley have recently secured a number of transactions on Greenhill Court, which is located at Springmeadows Business Park in Wentloog. This 2,7-acre site contains 15 newly constructed industrial units totalling approx 44,000 sq ft. Construction is due to be completed by April 2008 and the layout of the site is such that the units are available individually or combined.
One of the first occupiers to secure a pre-sale on the estate is Afon Wen Laundry who have purchased Units 1 to 6, which totals 18,000 sq ft and provides a self contained detached unit with private car parking and loading areas.
In addition to this sale Afon Wen have also let units 7 and 8, both measuring 2,000 sq ft, at £6.25 psf with an option to purchase. Unit 12, an end of terrace unit measuring 2,000 sq ft has been sold to Express Garage Door and Unit 13, measuring 4,000 sq ft, has also been sold to local company, J D Heating and Plumbing.

All the capital values achieved in these sales range between £80 and £85 psf, which represents the higher end of values achieved for industrial units within Cardiff.

Swansea
Joint agents Alder King and Rowland Jones have let two units on Celtic Trade Park, Fforestfach, Swansea West Business Park on behalf of owners Celtic Property Developments.
Unit 3 was let to Sinclair VW Ltd on the basis of a six year lease at a rent of £20,000 pax. The unit, which extends to 4,974 sq ft, is an industrial/trade counter unit, with frontage onto Bruce Road.
Unit 4, a mid terraced industrial unit, was let to Hammonds. The unit extends to 4,974 sq ft and has recently been refurbished. Hammonds have taken the unit on a 25 year lease at a rent of £23,650 pa and have gained planning permission to open a specialist play centre.