South Wales is seeing a boom in the construction of new industrial business units for its thriving small businesses, according to global property consultancy Knight Frank.
Tom Griffiths from Knight Frank’s Industrial & Logistics division in Cardiff, said:
“New schemes across the region are filling rapidly, with developers looking to build out new developments to cater for the demand.”
Atlantic Business Park in Hayes Lane, Barry is one good example. The development of 42 new high-quality 1,453 sq ft portal frame business/trade units there is being created for sale by Dawan Developments, following the earlier success of the adjacent Atlantic Trading Estate.
Tom Griffiths said:
“Already, 90 per cent of the units are sold or under offer, reflecting the demand for attractive and modern industrial and commercial units in the area.
“The opportunity to purchase these units, often via their owner’s pension plan, is very attractive.”
Also being offered for sale are six new 1,550 sq ft units being developed by RJD Developments at Stone House Business Park, located on the Vale Business Park in Llandow, near Llantwit Major, and seven of the eight units under construction have already been sold.
“The new generation of business unit provides modern, energy-efficient buildings with high eaves which enable a mezzanine floor to be added to accommodate office requirements. In short they are very attractive places to work and a world away from the traditional image of cold and dark industrial buildings,” said Tom Griffiths.
At Felindre Court, part of the Pencoed Technology Park on the edge of Bridgend, 18 self contained units are being built, with prices set at £165,000 plus VAT for mid-terrace units, and £175,000 plus VAT for end-terrace units. Even though completion is not due until Spring next year, half are already under offer.
A second phase is already being considered by developer by JG Francis Civil Engineering.
At Whitebeam Court at Ty Du near Nelson a joint venture partnership between Caerphilly County Borough Council and Welsh Government is delivering a managed business park offering four self-contained terraces of employment units that are available individually or combined. The units, from 1,130 sq ft to 3,637 sq ft in size, will be of high quality and low maintenance, set in a landscaped site. .
It is the latest phase of an ambitious sustainable mixed-use development for Ty Du by Welsh Government, which will include circa 200 homes and a total of 2.85ha allocated for employment use.
Tom Griffiths said:
“This new generation of modern industrial building units are in demand across South Wales from a wide range of small businesses owners who want to grow in an attractive, efficient environment.
“In our experience, any landowners with sites of up to three or four acres would be wise to consider this type of development – it’s a real hotspot in the market.”