The new owners of The Levels, Phase II Capital Business Park in Cardiff are already witnessing the benefits of the investment programme they are undertaking.
The Pears Group acquired the 22 industrial warehouse units totalling 120,000 sq ft last summer, attracted by its strong location and potential for increased rental incomes from proactive management.
Constructed in 2006, the Park is less than four miles from Cardiff city centre in an established commercial and industrial area with occupiers nearby including FedEx, National Grid, Everest Windows and B&Q. With Aldi’s proposed regional distribution unit on an adjoining site, and parcel delivery company DPD’s new depot nearby, the area has become a property hotspot in recent months.
Knight Frank and Alder King are the letting agents. Neil Francis, who heads the industrial agency team of Knight Frank in Cardiff, said: “The new landlord’s investment programme is already paying dividends. New office space has been created in two of the units, a new yard is being created at J Block – and existing occupier A&S Manuel has taken additional space in the 3,500 sq ft H5 unit.”
Nicole Kruger of Alder King added: “With a real shortage of quality units in Cardiff, The Levels is a high quality multi-let industrial park in an increasingly attractive location. My client’s proactive approach to asset management includes improvements and refurbishments across the scheme which will help to attract a high calibre of occupier. With vacant units from 3,300 sq ft to 13,000 sq ft, The Levels has a strong story to tell.”
Ben Grossman of the Pears Group said: “This has been our first industrial purchase within South Wales and we are pleased that our actions have resulted in good levels of activity. With unit M1 under offer and terms being discussed on to others, the future of the Park looks positive.