Five new businesses have committed to Prospect Park, a multi-let industrial and warehouse park in Swansea West that is being fully refurbished and is set to fill a gap in the local property market.
Acting on behalf of new owners Prospect Estates Ltd, national commercial property consultancy Lambert Smith Hampton (LSH) and joint agents Rowland Jones have attracted Hall and Roche Logistics, Cymru Coaches, L G Murphy, Lets Go Travel and Fforest Services to the 18-acre site.
Located on Queensway in Fforestfach, Prospect Park is the new name for the former Signode packaging factory. It closed in 2012 with the site undergoing an 18-month renovation programme to bring it up to the quality expected by businesses today.
The 225,000 sq ft two-building property has been divided into individual units to offer a mix of affordable industrial, warehouse and office accommodation with yard space and ample parking.
The units which feature re-cladded roofs and walls with modern alloy sheeting are available on flexible terms for lease or purchase and range between 5,000 sq ft to 100,000 sq ft.
Of the new occupiers, Hall and Roche Logistics, a global provider of transportation services has taken 90,000 sq ft on a 15 year lease with Cymru Coaches committing to 5,000 sq ft of industrial, office and yard space for its private coach hire business.
L G Murphy has purchased 9,000 sq ft of accommodation also with a yard area for its demolition and plant hire company and is set to move in during June. Independent coach hire business Lets Go Travel is buying a 4,500 sq ft industrial unit with a yard area whilst Fforest Services, a supplier of temporary traffic lights, is to purchase 3,000 sq ft of accommodation plus a large yard.
“It’s refreshing to see an obsolete factory brought back to life and to such a high standard helping to give the market exactly what it’s been lacking for far too long,” says Jason Thorne, a Director at LSH’s Industrial Agency team.
“We had been looking for new premises for some time so were delighted when we learnt of this development particularly as there were so many options in terms of the type and size of space we could take within it,” comments Steve Pearce of Cymru Coaches.
“Our business has expanded considerably recently so we’re confident this new base will give us room for further growth coupled with the benefits of an excellent strategic location given junction 47 of the M4 is within such easy reach.”
Prospect Estates Ltd are UK-wide specialists in the acquisition and renovation of large industrial stock, boasting decades of experience of bringing derelict and outdated property back onto the market through renovation and the creation of self-contained units in a mix of sizes.
Says Peter Shackleton, Development Manager at Prospect Estates: “The response to the new-look Prospect Park has been very encouraging and we are delighted to be operating in Swansea again where we hope our initiative will help to encourage growth within the local business community and contribute to job creation.”
Adds Nicola Palmer from Rowland Jones: “There’s certainly a lot of interest being shown in the remaining units and the fact that potential occupiers have the flexibility to rent or buy adds to the appeal.”
Fforestfach is a successful and long-established retail, trade and industrial location and other key employers based in the area include Unichem, TNT, Welsh Boxes and Hurns Brewery.