Watts Group’s South Wales truck and van servicing business is to relocate and expand its Swansea operation following the purchase of new premises in the city’s Enterprise Park.
National commercial property consultants Lambert Smith Hampton (LSH) has assisted in negotiations for the long leasehold interest on Unit 6D Lion Way.
LSH acted on behalf of a private investor in completing the sale of the 14,292 sq ft building which is set within a 2.15 acre site offering a large yard area which is ideal for Watts’ operational needs.
“We worked closely with Swansea Council to extend the leasehold,” explains Jason Thorne of LSH “Short leaseholds can be problematic as it can be difficult to secure a mortgage, and so new purchasers are unlikely to invest in a premises with only a short term. Swansea Council recognised this and assisted in the extension of the ground lease, which has resulted in a national company investing and expanding in the facility. Watts’ has long-term growth and expansion plans and so a long leasehold agreement was essential.”
Watts has been established for over 150 years, and the South Wales Truck and Van business has grown considerably year-on-year with a current annual turnover of £25m. It has recently been recognised at the DAF Trucks UK Annual Awards as Top Performing Sales, Parts and Aftersales Dealer from the market-leading network of 133 companies. Watts also has a large all-makes parts distribution business with its other dealerships in Newport and Cardiff contributing to a total headcount of 100.
Julie Connock of Cedar Surveyors Limited who acted for Watts says: “Based in Cwmdu Park, Swansea parts and service department has won many awards over the years for its staff development and commitment to customer service. We wanted to make sure that its next Swansea base would enable them to build on these strengths and allow them to grow.
“Given its strong strategic location, close to link routes in and out of Swansea and to the M4, I’m confident that Lion Way will meet all of Watts’ recruitment and business expansion needs for years to come.”