10th May 2016
Apec Braking expands by acquiring freehold of new premises
Acting on behalf of Bristol property company Terramond Ltd, property consultants Alder King have sold the freehold of the second and final distribution unit at Terramond’s new 26,500 sq ft industrial and distribution scheme at Armstrong Way in Yate.
Specialist automotive parts company Apec Braking, headquartered in Yate, acquired the semi-detached Unit 3 for an undisclosed sum and has started its fit-out.
The 12,431 sq ft unit is the final part of Terramond’s redevelopment of part of a derelict factory site. The first section was sold to West Technology Systems earlier this year and is now known as Dalton House.
Steve Fisher, director and general manager of Apec Braking, said: “After a long period of searching for the right premises, we’re delighted to have secured a unit in such close proximity to our current site which gives us valuable expansion space. Acquiring the freehold also gives us stability and enables us to make a long-term commitment to remaining in Yate and represents the first phase of our plans.”
Andrew Ridler, partner at Alder King, who acted on behalf of Terramond, said: “The sale of this final unit to Apec was part of a wider project to redevelop a redundant 50,000 sq ft industrial building on a 3.5 acre site in an area experiencing very strong demand for quality business space and an ever-reducing amount of standing stock capable of immediate occupation.”
Huw Thomas, director of Terramond, commented: “A sale to another Yate-based business, following on from West Technology and Kelly Brothers who took 2.5 acres of the site to construct a 6,000 sq ft headquarters and depot, shows the strength of the Yate occupier market.”