One of the UK’s largest independent tyre wholesalers is expanding into Wales after acquiring a warehouse, formally utilised as a TV studio for £7.75m, in a deal supported by global real estate firm JLL.
Oak Group Holdings supplies over 6,000 tyre fitters and retailers with tyres, consumables and accessories from a portfolio that includes established brands such as Davanti, Landsail, and Envoy. With seven warehouses across the UK, it is able to hold over 900,000 tyres in stock for its customers.
It has now acquired a new 155,150 sq ft logistics site on the Queensway Meadows industrial estate in Newport. Previously occupied by production company Urban Myth Films, the warehouse was used for TV projects such as The Lazarus Project and The Undeclared War.
JLL acted on behalf of the sellers Freshwater Group of Companies on the transaction, which was one of last year’s largest vacant possession sales in Wales
This warehouse will be Oak Group Holdings’ first premises in Wales, marking an expansion for the business that will help to create 75 jobs in the local area. The business will also benefit from the strong transport links Queensway Meadows will provide to its delivery fleet of over 150 vehicles, offering easy access to the M4 and M5 interchange.
Kate Openshaw, industrial and logistics associate at JLL, said: “Vacancy rates across Wales’ industrial market are moving to the lowest levels we have seen this decade. That brings challenges as the continued lack of new high-quality stock means supply levels are constrained against a background of continued occupier demand.
“Increasingly we are seeing occupiers look to purchase buildings in a market where Grade A options are limited, prioritising outright ownership where investment is required to adapt the space to meet their needs. It’s important that occupiers like Oak Group Holdings are able to act fast when they spot an opportunity like this, and it was great to help them complete this expansion into Newport.”
Peter Cross, commercial director at Oak Group Holdings, said: “Oak Group Holdings is delighted to add this new distribution facility to our network. The site is exceptionally well located, with excellent access to the M4 and M5. We look forward to bringing the facility online in the near future, where it will play a key role in enhancing the availability of our brand portfolio and strengthening our service capabilities across the UK.”
The combined agency teams at Avison Young’s Cardiff and Bristol offices acted for Oak Group Holdings in the search and acquisition of this new premises.
Paul Hobbs, director in the industrial agency team at Avison Young, added: “We were delighted to assist the North West based team in their strategic acquisition. Since the removal of the toll, Newport creates some excellent value property opportunities when compared to Bristol and it’s great to be part of one of the largest property deals in Wales during 2025.”
