Property adviser Knight Frank has secured a 20,000 sq ft letting on behalf of landlord Custodian REIT at the Severnlink Distribution Centre near Chepstow.
Leather and fabric upholstery importer Global Furniture Alliance – GFA – will occupy Units 10 and 11 on a long-term lease at an annual rental of £70,000. The company will upgrade office facilities at the buildings.
James Painter, managing director at GFA, commented:
“As a business we are delighted to secure the two units at a competitive rate, combined with a superb location for our customers and staff. We have signed up to a 10 year lease, so GFA very much sees a long term future on this estate.”
Neil Francis, partner in the industrial agency team of Knight Frank in Cardiff, said:
“The Centre is a popular warehouse and logistics centre adjacent to Junction 2 of the M48 close to the original Severn Bridge, with superb access to South Wales and to the M4/M5 interchange.
Tom Merrifield, Director at Billfinger GVA adds: “Its location makes Severnside a popular choice for companies seeking a distribution base in the region and currently just the detached Units 1 and 2 – totalling around 26,000 sq ft – and the end-terrace Unit 8 remain available.”