The Pears Group invests in Capital Business Park, Cardiff

The Pears Group, advised by Savills, has purchased The Levels, Phase II Capital Business Park, Cardiff from AXA Real Estate, on behalf of Friends Life Assurance Society Ltd.

The park comprises approximately 120,000 sq ft (11,148 sq m) of 22 high quality industrial warehouse units constructed in 2006. Tenants on site include Fed Ex and National Grid. The scheme is located less than four miles from Cardiff City centre, in an established commercial / industrial area with occupiers nearby including B&Q, Natuzzi, Welsh Water, and Aldi close to commencing construction of its new regional distribution unit on the adjoining site.

Ben Grossmann, investment executive at The Pears Group, adds: “We are delighted to have completed our recent acquisition of Phase II, Capital Business Park. This is a well located estate that offers high quality space. We have already begun a capital expenditure programme and this will be finished by the middle of September.”

Ross Griffin, head of Savills Cardiff investment, comments: “The Levels provides The Pears Group with a high quality, multi-let industrial park in a strong location, which benefits from attractive rental yields and significant growth prospect with active asset management. The improvements and refurbishments they are carrying out across the scheme will create a market leading business park that will attract a high calibre of occupier.”

Knight Frank and Alder King are the letting agents on the remaining 40,000 sq ft (3,716 sq m) of available space at the park and are in discussions with several occupiers.