Property and asset management company, FI Real Estate Management (FIREM), has announced that they have secured several lettings and seen a significant increase in demand following the completion of an extensive refurbishment programme at two of its industrial estates in Cwmbran, South Wales
The refurbishment works saw FIREM invest over £100,000 to overhaul its vacant units, at Court Road and Springvale Industrial Estates, to meet the current market needs. Both estates were constructed in the mid 1980s and the refurbishment works have transformed 12,957 sq. ft. of dated warehouse space into modern industrial units.
Following the completion of the works programme, FIREM has let units 117 and 118 at Springvale to M.R Vehicle Repairs and South Auto Electrics Ltd respectively, with both committing to 10-year leases. And at Court Road, Unit 40 has been snapped up by Fitzwilliam Engineering Ltd on a five-year lease.
Only units 40 and 41 at Springvale remain available to let, the combined space of 11,447 sq. ft. has undergone full redecoration internally and been converted into an open plan area with LED lighting. Work also included the repainting of the external cladding and re-lining of the car park.
A spokesperson for FI Real Estate Management said:
“It is fantastic to see the success of the refurbishments at Court Road and Springvale Industrial Estates and to have secured three new lettings as a result of our investment. With our 55 units across both sites in Cwmbran coming close to being fully let, it really emphasises the growing demand for quality industrial accommodation in the area.”
Pipework fabrication and welding specialists, FitzWilliams Engineering, said:
“We were really impressed with the finish of the refurbished unit and the move fits perfectly with our growth plans. We’re very much looking forward to trading from our new home at Court Road.”
Springvale Industrial Estate stretches across approximately 23.97 acres west of the A4051, with its units ranging in size from 520 sq ft to over 10,000 sq ft, offering a gross internal area of 186,598 sq ft. Two miles away, south east of Cwmbran, Court Road comprises 21 units ranging from 746 sq ft to 6,166 sq ft, providing a total area of 44,872 sq. ft. Both sites enjoy excellent transport links to Newport and Cardiff via the M4 Motorway.