Acting on behalf of a private investor Knight Frank has sold Ringtel House on Llantarnam Park, Cwmbran to local occupier Ninety9 Team Sports Ltd.
This 5,000 sq ft detached warehouse unit was purpose built for the previous occupier less than 10 years ago and provides good quality accommodation with generous external loading and car parking area.
Damian Cooper, managing director of Ninety9 Team Sports Ltd, was one of a group of local businessmen who bought the building for £285,000. The company, which is an official licensee for US sports clothing manufacturer and Welsh Rugby team sponsor Under Armour, will be based at the building.
He said: “Our staff are locally-based and the unit provides good facilities for offices and warehousing. We are investing £60,000 in building product showrooms and additional offices within the unit.”
The company is now in its third year of operation and currently employs 12 staff. Damian added: “We plan to create more new jobs over the next year.”
Neil Francis, associate at Knight Frank, who secured the sale adds: “With a lack of good quality modern stock to purchase within Cwmbran there was significant demand for this unit and the sale was concluded via “best bids”. This highlights that detached units offering modern functional space in locations close to the M4 Motorway will attract good levels of interest and result in continued capital value growth.”