Acting on behalf of Valad Europe, DTZ, a UGL company and DLP Surveyors have recently agreed new letting terms for a further 22,000 sq ft unit on the Coed Cae Lane Industrial Estate, Pontyclun. As a result of these latest lettings the estate is now 97% occupied, with only four small units remaining vacant.
The most recent letting has been to Mekatek Ltd, an established Sheffield-based recycling company that also has an existing operation in Carmarthen. Mekatek Ltd has agreed terms on a new 5½ year lease of units F1, F2, and E1 and will be using the premises as a recycling depot for electrical equipment, packaging waste and other “commodity” recycling activities.
There is now only 5,594 sq ft of space still available on the 174,000 sq ft estate; less than 3% of the total availability.
Valad Europe is a multi-let real estate investment manager with its UK real estate team of 80 operating from offices in London, Leeds and Edinburgh, managing around £700 million of assets and £400 million of development projects, comprising 12 million sq ft of industrial, office and retail space.
Rob Ladd, Industrial Director at DTZ Cardiff comments: “As agents we have worked very hard with our clients to understand and meet occupiers’ needs. A measure of our efforts is reflected in these latest take-up figures for the estate. In what continues to be a challenging market, through a combination of a competitive pricing policy, a realistic and pro-active landlord, plus prudent estate management we are delighted to have achieved this level of lettings on the estate.”
Michael Bruce of joint letting agents DLP Surveyors comments: “These lettings represent the latest in a remarkable turnaround in fortunes for the estate. When DTZ and DLP were first appointed back in 2009 the estate was 43% vacant, and occupancy levels further deteriorated once the recession took hold.”