A series of lettings at Llandough Trading Estate near Cardiff have marked a strong first year for landlord, Highcross which bought the estate in October 2010.
Highcross, a property fund manager specialising in property investment and development opportunities, acquired the 16-acre estate from RREEF UK. The estate comprises 22 industrial/trade counter units, ranging from 5,190 sq ft – 19,985 sq ft and is located on Penarth Road, three miles south west of Cardiff city centre. DTZ and Fletcher Morgan are joint agents on the estate.
Top Table Catering Hire Limited is one of three new occupiers which has made Llandough their home in the last twelve months. The company has taken 7,351 sq ft of newly refurbished industrial/warehouse space at unit 1 on the estate on a 10 year lease.
Scaffolding supplier, Beaver 84 has taken 9,000 sq ft of space, including a yard at unit 7 after Highcross agreed to undertake refurbishment works to secure their move to the estate. Exhibition specialists, Denbe Display have taken 5,500 sq ft whilst battery distributor, Espex Batteries, which currently occupies Unit 13, has expanded into Unit 12.
Angelina Schoenmann of Espex Batteries Ltd, which has been trading at the estate since October 2008, commented: “Llandough Trading Estate has been ideal for our needs. Last year, we needed to expand and rather than relocating, we have taken on a lease at an adjacent unit. The landlord was very accommodating to the needs of our business and we look forward to continued growth at the estate.”
In addition to the recent lettings, there are two further units under offer and there is strong interest from a gym and children’s entertainment centre in two 13,000 sq ft units.
Katie Whell of Highcross commented: “When we acquired the estate in 2010, our strategy was to improve its overall presentation, raise the profile and fully refurbish vacant units in line with occupier requirements.
“Going forward, we want to work closely with existing customers to re-structure leases and accommodate expansion plans whilst also continuing to work with new occupiers to agree flexible terms which work for their business.”
Neil Francis, Associate Director at DTZ, added: “Llandough’s strategic location close to central Cardiff means it has a lot to offer businesses looking for good quality accommodation which has been supported by Highcross’ proactive attitude to asset management.”
Tom Merrifield of Fletcher Morgan continues: “There is well documented shortage of grade A accommodation in south Wales, with little in the development pipeline, so by undertaking refurbishment works to improve the quality of the estate, we have been able to attract occupiers that, in previous years, would have taken newly constructed space elsewhere.”
Highcross owns a further two estates in Wales, in Pontypool and Treforest and are one of the UK’s largest industrial landlords, owning just under 32 million sq ft with over 4,500 occupiers.