Wales & West Utilities has acquired the £1.3m freehold of a major warehouse unit on the Reevesland Industrial Estate in Newport as the new site for its central store.
Wales & West Utilities was advised on the purchase by the Cardiff office of Knight Frank, which is also advising on its fit out ready for occupation in March. The 36,843 sq ft unit was acquired from JoJo Maman Bebe, which was advised by Robert Chapman & Company.
Andrew Kennedy, business projects officer at , said: “We are moving our central store from Grangetown, Cardiff to be more centrally located within our geographical region. We looked at more than 10 buildings in the area but the Reevesland unit appealed because of its location and good access to the M4.”
Neil Francis at Knight Frank said: “This is Grade A industrial space that has been well looked after. Refurbishment of the existing 5424 sq ft offices and the creation of a new workshop area will take the investment by Wales & West Utilities to around £2 million.”
Maternity, baby clothing and accessory retailer JoJo Maman Bebe has leased 83,000 sq ft on a 1.7-acre site also at the Reevesland Industrial Estate. The company, founded in Wales in 1993, reported 20 per cent growth during 2011. Robert Chapman of Robert Chapman & Company said: “The disposal of its existing HQ building and the lease of the new unit will enable the company to continue to grow without the upheaval of moving far.”
The Reevesland Industrial Estate is close to the Southern Distributor Road which provides access to Newport city centre and junction 24 and 28 of the M4 motorway.