The recent sale of a clutch of industrial units in Gwent could be a catalyst for speculative development similar industrial units to satisfy pent up demand, a leading local property agent claims
Acting on behalf of a local private investor Hutchings & Thomas, of Clarence Place, Newport, have acquired ten industrial units each of 1,500 sq ft, totalling 15,000 sq ft, at Springvale Industrial Estate, Cwmbran.
The units were acquired from Torfaen County Borough Council for £350,000.
The investor now plans to refurbish the units fully and bring them to the market for sale or to let.
Haydn Thomas of Hutchings & Thomas, who acted on behalf of the investor, said: ““After identifying a short fall in supply of quality units of this size and nature in the Cwmbran area especially on a freehold basis, we acquired the units for our client and will now look to dispose of the same. We already have interest from several parties.
“The majority of industrial space demand in the current climate seems to be for small end units from 1,000 sq ft up to 5,000 sq ft. The lack of supply linked with increasing demand may in time lead to the supply of industrial development of units of this size and nature to satisfy the needs.”