Fletcher Morgan has completed three transactions on Cardiff’s Penarth Road on behalf of Penarth Commercial Properties Ltd who were advised by Tim Carr of Tide Advisory Ltd. who carried out the negotiations and lead the transactions through to completion for the company. Tide Advisory continue to advise on the post transactional details.
The deals form part of a repositioning programme across a prominent roadside and automotive portfolio, with strong demand from national operators.
The transactions comprise:
- The letting of a prime roadside unit to Kwik Fit, strengthening the operator’s South Wales presence.
- The sale of the former Transit Centre to Buy & Go Cars, establishing a new flagship site in Cardiff.
- The sale of the Fordthorne business and adjoining land to Arnold Clark, with the group acquiring the site and existing Omoda and Jaecoo operations.
Matthew Jones, Director at Fletcher Morgan, said: “These transactions demonstrate the continued depth of demand for well-located roadside and automotive assets in Cardiff. Penarth Road remains one of the city’s most active corridors, and we are pleased to have delivered a strong set of outcomes for our client.”
Roger Pugsley, CEO of Penarth Commercial Properties Ltd, said: “This programme was driven by a clear strategic mandate. Tim Carr of Tide Advisory led the restructure and defined the execution strategy, which Fletcher Morgan then helped deliver effectively in the market. This leaves Penarth Commercial Properties well positioned to expand its commercial property investments in the region.”
The transactions underline continued investor and occupier appetite for prime automotive locations, with Penarth Road remaining a key focus for national operators expanding in South Wales.