RO Developments and Welsh Government sell office park scheme in South Wales for £1.96m17th July 2013

RO Developments and the Welsh Government have completed the sale of their 29,467 sq ft office park scheme The Pavillions, Llantarnam Park, Cwmbran, South Wales.

A local private investor has purchased all six detached units at the scheme for £1.96m or £71 per sq ft.

The development comprises six buildings in units ranging from 1,000 sq ft to 6,291 sq ft in an attractive landscaped setting. It also features male, female and disabled WCs, accessible raised floors, suspended ceilings, lift access to all floors, disabled access and gas fired central heating.

Over the past six months RO Developments has let one hundred per cent of the scheme. Occupiers include Hempel, Nagra, Sword and Buying Team.

Richard Bourne, development director of RO Developments said: “We have seen a flurry of activity across all of our schemes in South Wales, both in terms of leasing activity and investment or owner-occupier sales. We are delighted to have sold the scheme, having maximised its value through leasing the vacant space.”

RO Developments and the Welsh Government were advised by Lambert Smith Hampton and Jones Lang LaSalle. The private purchaser was unrepresented.