25th November 2015
Strong freehold demand drives sale of three Cardiff industrial units
Acting on behalf of MVJ Capital Ltd, property consultants Alder King have sold the freehold of three terraced industrial units on South Point Industrial Estate on Foreshore Road in Cardiff to three successful South Wales businesses. The successful disposal of all three units for £590,000 demonstrates the strength of demand from business owners for freehold or long leasehold properties.
At 5,370 sq ft, the largest unit C5 was acquired by Alexander Bullock, who specialise in bespoke furniture, for £200,000. Unit C7, also 5,380 sq ft, was acquired by independent funeral directors Rumney Funeral Services for £240,000 while the 4,035 sq ft Unit C6 was purchased by SFI Ltd for £150,000.
Owen Young, partner at Alder King’s Cardiff office, said: “These units were originally offered to the market as one property on a leasehold or freehold basis, with the option of sub-division.
“However we received significant interest for freehold units of around 5,000 sq ft and we therefore agreed to subdivide the property into three separate units. We secured offers on all three properties within six weeks of them coming on to the market and are delighted to have secured such a positive outcome on behalf of our clients.”
Matthew Jones of Fletcher Morgan added: “The speed at which we were able to sell all three units proves that there are signs of improvement in the industrial market and in particular the demand for good quality freehold stock.”
South Point Industrial Estate is located south of the city centre and close to the Heliport and Docks.
Fletcher Morgan acted jointly with Alder King on behalf of the vendor MVJ Capital Ltd. The three purchasers were unrepresented.