Llandough Trading Estate in Cardiff has benefitted from strong occupier demand resulting in two lettings totalling over 13,000 sq ft at the start of the new year.
Glamorgan Foods Ltd is a newly established subsidiary of a large London based food supplier which occupied Unit 16 on a 10 year term at a headline rent of £4.50 per sq ft. The letting signals a new presence for the group in South Wales, demonstrating a vote of confidence in the region and continued growth in itsr well-established customer base.
In addition, Total Fast Foods Supplies Ltd has taken a five year lease on Unit 11 at a headline rent of £4.50 per sq ft as part of a simultaneous relocation and expansion.
Both lettings completed within one month of each other.
With a view on the New Year, landlord Regional REIT – represented by London and Scottish Property as its retained asset manager – is preparing to undertake further speculative refurbishment works on the two remaining units on the estate. It was advised in the transactions by joint agents Knight Frank and GVA Apleona.
Grace Shackell from the industrial agency team of Knight Frank in Cardiff said: “The recent lettings are further evidence of the success of speculatively refurbishing units on this popular estate. It is further evidence of continued strong occupier demand, despite the uncertainty surrounding Brexit, with many companies taking a view and continuing with relocations and expansion plans.”
Daniel Davies of GVA Apleona said: “Llandough is a popular multi-tenanted estate in Cardiff and is home to a wide variety of businesses. With its core benefits of fringe city centre location and convenient road links, coupled with refurbishment of the units, we would expect to see continued success on the letting the remaining units in early 2018.”