A new development of industrial units on the Fairfield Industrial Estate at Gwaelod-y-Garth, near Cardiff, is already almost fully let.
Six new industrial/warehouse units, ranging from 980 square feet to 1,500 square feet, have been constructed in two terraces on the estate and four have been quickly let – Units 10 and 11 to sports nutrition company MSC Nutrition, and further units to high-end building contractor SW Fleming Ltd, and property maintenance specialist Workforce Property Maintenance.
The remaining two units are currently under offer. Knight Frank and Cushman & Wakefield are the joint letting agents for developers, Short Bros (Developments) Limited.
Stephen Short of Short Bros (Developments) Limited said: “As owners of the adjacent estates we have been looking at ways to improve our offering to occupiers within the area. Working with our agents we identified that there is a shortage of smaller units within the area – particularly this close to the A470 and M4. We have been pleased at how well the development has been received in the market and the levels of interest.”
Neil Francis, partner and head of the Industrial & Logistics team of Knight Frank in Cardiff, said: “The combination of modern adaptable premises and location very close to Junction 32 of the M4 has proved a strong attraction to local businesses, and shows the high demand in South Wales for small units.”
Rob Ladd, Director at Cushman & Wakefield, added: “Given these uncertain times it is positive to see a landlord progressing with new development. Despite the recent market challenges the level of interest that the scheme has generated during construction has been excellent and allowed us achieve a new high for headline rents in this area.”