Independent commercial property management company Industruct has acquired a former food production unit on Cwmtillery Industrial Estate, near Abertillery in Blaenau Gwent for £1.25 million.
In its first acquisition in South Wales, the Leeds-based company plans to redevelop the 116,520 sq ft former Tillery Valley Foods factory into a number of modern industrial units for local businesses.
Global property consultancy Knight Frank advised the vendor in the sale of the premises. Neil Francis, head of Knight Frank’s Logistics & Industrial Divion in Cardiff, said: “It was devastating news for the local community when the food products business went into administration two years ago, but this acquisition by Industruct is equally good news.
“The company is expert at adding value to commercial property and this first venture into the South Wales property market is a vote of confidence in the long term prospects for the region.”
Ceri Hartnell, head of asset management at Industruct, said: “We are already on site carrying out extensive refurbishment and upgrade to the existing buildings. We will divide and reconfigure the existing buildings to provide a range of production and logistics units from 5,000 sq ft upwards.
“We are looking to create modern and well-equipped industrial accommodation in a range of sizes and flexible options to give businesses from the area and further afield premises that exactly match what they require.
“We are happy to work with potential tenants to explore how the space can be divided if required, and can work alongside potential new tenants to split the property into a configuration that works best for them.”
Cwmtillery Industrial Estate is two miles northeast of Abertillery town centre, with close proximity to the A467 and access to the A465 Heads of the Valleys Road five miles to the north, and Junction 28 of the M4 16 miles to the south.
