An independent power tools supplier has purchased the premises it has occupied on Swansea Enterprise Park since 2005 demonstrating confidence in the local marketplace.
CNS Power Tools Limited has bought Units 7 and 8 at Phoenix Business Park on Lion Way with national commercial property consultancy Lambert Smith Hampton negotiating the terms of the sale.
Acting on behalf of a private investor, LSH sold the trade counter style accommodation on a freehold/leasehold basis with the two units totalling 5,739 sq ft.
CNS Power Tools has become one of South Wales’ leading hand and power tool, fixings, garden machinery and accessory distributors operating six days a week selling and repairing an extensive range of big brand items.
“It’s always a positive sign when a tenant makes the decision to own their own premises,” comments Jason Thorne, Associate Director at LSH.
“This transaction is certainly typical of the increasing popularity of the Swansea Bay area among investors. We’re finding more and more London-based individuals and property companies are looking further afield into provincial areas in order to achieve greater returns.”
“Since the business started in 2005 it has gone from strength to strength and with such a strong and loyal customer base we felt now was the right time to buy as we are expanding the business with the introduction of hardware products,” says Steve Cornelius of CNS Power Tools.
“This convenient and highly accessible location in the heart of the Enterprise Park has certainly contributed to our success and we’re confident the premises will continue to meet our needs both operationally and from a distribution point of view.”