Leading independent Cardiff IT services company Vista Retail Support has leased a 16,062 sq ft warehouse at Eastgate Park, Wentloog, Cardiff.
The company has leased Units 4-6 on a 10 year lease at a rental rising to £75,000 per annum. Knight Frank and DLP Surveyors represented outgoing tenant Maddocks, the domestic appliance parts distributor, which surrendered its lease on the premises in order to move into larger premises in nearby Capital Park. Jenkins Best acted for landlord D.A. Phillips and Co Ltd in the Vista transaction.
Neil Francis, who heads the industrial agency team at Knight Frank in Cardiff, said: “This is a sizeable industrial letting with two Welsh companies moving because of the growth they are achieving – Maddocks from Eastgate Park to Capital Business Park, and Vista into Eastgate.”
Headquartered in Cardiff, Vista provides specialist support to some of the biggest names in retail, hospitality and leisure in the UK and Europe, with innovative payment technologies, robotics, virtual reality applications and artificial intelligence.
Vista recently secured a £14m investment from leading mid-market private equity firm LDC to accelerate its growth and fund new acquisitions. The deal values the business at almost £30m.
Richard Cottrell, managing director of Vista, said: “As we continue to enhance our service offerings, it’s essential that we have a business infrastructure that supports our customers. This expansion of our warehousing capability along with further investments in people and technology, provides the foundations for further significant growth.”
Michael Bruce of DLP Surveyors said: “H T Maddocks & Son Ltd is a family-owned and run business which doubled its HQ and warehouse facilities within Cardiff by moving to the detached 43,000 sq ft property on Capital Business Park earlier this year.”