Westcore Europe, the new owners of the South Wales Distribution Centre at Kenfig, are investing £1.2m in refurbishing vacant space to attract industrial occupiers.
Westcore Europe recently acquired the 497,314 sq ft Centre at Kenfig Industrial Estate, between Cardiff and Swansea, which was originally constructed for automotive group Borg Warner and is currently part income-producing and part vacant.
Marc Brutten, Chairman of Westcore Europe, commented: “We are delighted to have purchased a building in such a strategic and well established distribution area. The internal and external refurbishment works are to begin before Christmas and we have targeted a completion date of April 2016.”
Westcore Europe has appointed property agents Knight Frank and DLP to find tenants for more than 150,000 sq ft of distribution and warehousing space which is currently vacant and will benefit from the refurbishment works.
Neil Francis, partner at Knight Frank in Cardiff, said: “We are very hopeful of attracting new tenants for this good quality industrial space, which will be offered at £2.50 per sq ft. We can provide units from 50,000 sq ft up to 157,000 sq ft, and given the lack of quality space currently vacant along the M4, are optimistic of receiving a good level of enquiries.”
Mike Bruce at DLP said: “Kenfig Industrial Estate sits adjacent to the M4, between junctions 37 and 38. It’s a good location with recently-improved road links now giving excellent access to the motorway network.”
Existing tenants at South Wales Distribution Centre include Bunzl and First GB Logistics Ltd.