Acting on behalf of the Joint Administrators of KMS Components Limited, DTZ have successfully sold KMS House, located at Terra Nova, Penarth Marina. The property has been vacant since January 2014 and comprises a modern detached two storey office business unit totalling some 18,131 sq.ft (1,684 sq.m)
Chris Terry, Associate Director at DTZ who represented the vendor said: “We are very pleased to have concluded the sale of the property. The office market in Cardiff is showing clear signs of improvement and the property generated much interest from a variety of owner occupiers mainly due to the unique nature and location of the building.”
KMS House was sold to an owner occupier, Chris Griffiths of Open Genius Limited, for an undisclosed price. It will be renamed Tech Marina.
Matt Phillips, Managing Partner at Knight Frank who represented the purchaser, said: “We have been working with Chris over the last 12 months to find the right opportunity and consider this to be an excellent fit for both the business and as a property asset going forward.”
Chris Griffiths, commented: “We are excited by the prospects of redeveloping the building into modern serviced offices aimed at the tech market. The new premises will be our business base but we also see a real opportunity to create a new hub for other tech businesses”.