The estate which comprises 15 industrial / warehouse units, between 2,000 sq ft and 4,000 sq ft has proved popular in recent years for occupiers wishing to purchase, however, the last three transactions, which have assisted in this full occupancy rate, are lettings as opposed to sales, which indicates how the market and requirements have changed in recent years.
Unit 11, a mid-terraced workshop unit of 2,000 sq ft has been acquired by Laing at a headline rent at £10,000 per annum. Unit 14, which offers a semi-detached building measuring 3,500 sq ft has been acquired by AE Insulation and provides additional storage space for its headquarter offices and stores within the estate. The final letting is to Wild Creations which has relocated from Lamby Workshops and doubled its size by occupying 4,600 sq ft of space in unit 15. The company has signed a 5 year lease with an option to purchase within this period.
The lettings were handled on behalf of Greenhill Estates by the Cardiff offices of Knight Frank and Cooke & Arkwright.
Neil Francis, associate at Knight Frank commented:
“It is widely acknowledged that there is an abundance of good modern stock in east Cardiff. To finally let these three units and create 100% occupancy within the estate is good news for the area and shows that tenants are still willing to move if the quality of the product offered is appealing”.
Jeremy Symons, Director of Cooke & Arkwright adds:
“We had significant interest in these units over the last few years but for various reasons have been unable to progress. However, some creative thinking coupled with our clients approach to offering flexible and competitive terms to all three occupiers that allowed the deals to be agreed quickly and secured in decent timescales”.