4th December 2014
Former Dairy Crest site in Merthyr Tydfil sold
The site of the former Dairy Crest depot on Willowbrook Industrial Estate in Merthyr Tydfil has been sold to regional investment and development company Monaco Real Estate. The purchaser, which secured the freehold of the five acre site and 20,000 sq ft of buildings for an undisclosed sum, has now sub-divided the property into a number of different sized plots to capitalise on growing demand from SME’s for smaller sites suitable for storage, manufacturing or development.
By sub-dividing the site and acquiring an additional five acres of adjacent land from National Grid, Monaco Real Estate has created more than nine smaller parcels of land and buildings, most of which have already been let or sold. Three acres remain which can be sub-divided to suit occupier requirements.
Property consultancy Alder King acted for Dairy Crest Ltd in the disposal. Partner Owen Young said: “While the site eventually proved surplus to requirements for Dairy Crest, Monaco Real Estate has successfully identified demand from SME’s for smaller cost-effective plots of land and buildings suitable for storage or development. The market reaction to the parcelling of the site confirms the success of their strategy. It is very encouraging to see this large industrial site being put back into productive use.”
In a separate transaction, the same purchaser also instructed Alder King to dispose of the freehold of a neighbourhood retail unit in Cardiff. The 2,328 sq ft ground floor property at 34/35 Clifton Street in Splott has now been sold to a private individual for £85,000.
Owen Young continued: “The sale of this mid-terraced unit shows there is still robust demand from traders in secondary locations which serve strong communities such as Splott.”