Joint agents Cushman & Wakefield and Cooke & Arkwright, acting on behalf of DTZ Investors, have let the two remaining units at Stuart Close Trade Park in Penarth Road, Cardiff, taking the estate to full occupancy.
The recent letting of Unit 4 to Digraph Transport Supplies Limited followed a proactive refurbishment programme implemented in 2018. The letting of Unit 9 to LCB Construction Limited allowed an existing estate tenant to expand their current occupation.
Chris Yates, Associate in Cushman & Wakefield’s Logistics & Industrial team, commented:
“We advised our client to refurbish the vacant accommodation at Unit 4 with a carefully considered scope of works. Leveraging the strength of the estate’s location, situated just off Penarth Road in an established trade counter area to the west of Cardiff, our client committed to undertaking such works which ultimately paid dividends by providing a high-quality unit which was swiftly let to Digraph Transport Services, a national covenant.
“It was particularly pleasing that with both new lettings we were able to further improve the rental tone at the estate, helping to demonstrate both the continued sector demand for good quality, multi-let industrial stock of this nature but also the apparent market tension that a continued lack of industrial accommodation in Cardiff is creating.”