In October 2018 Monmouthshire County Council, advised by Alder King, acquired the freehold of Castlegate Business Park in Caldicot from Robert Hitchins Ltd for an undisclosed sum.
The business park sits on a 17 acre landscaped site on the eastern edge of Caldicot and provides 220,000 sq ft of premium business space.
The acquisition was the latest move in the Council’s thoughtful build out of a commercial portfolio. It consolidated a key strategic site at the gateway to South East Wales and demonstrated a commitment to the continued regeneration of Caldicot.
It supplemented recent Council ventures including the establishment of a livestock market near Raglan, a solar farm in Crick and the provision of Grade A office accommodation for commercial let on Wales 1 Business Park in Magor.
Our building consultancy team undertook a due diligence survey of the estate prior to acquisition. Alder King is now retained by the Council as managing and lettings agents as well as advisers on future investment acquisitions within the administrative boundary.