Monmouthshire County Council, advised by Alder King, has 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 is the latest move in the Council’s thoughtful build out of a commercial portfolio. It consolidates a key strategic site at the gateway to South East Wales and demonstrates a commitment to the continued regeneration of Caldicot.
It supplements 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.
Councillor Bob Greenland, Cabinet Member for Enterprise, said “This acquisition helps take forward a number of our strategic goals and is a clear demonstration to investors nationally and internationally that Monmouthshire is a great place to do business.
“Monmouthshire County Council has never been afraid to take a commercial approach, to innovate and be creative where it helps us promote the vitality of our county and this is a path that we will continue to follow.”
Our building consultancy team undertook a due diligence survey of the estate prior to acquisition. We are now retained by the Council as managing and lettings agents as well as advisers on future investment acquisitions within the administrative boundary.