Double disposal for Catalent in Deeside

Biotech firm ADC has taken a 70,000 sq ft lease, while ready meal company KK Fine Foods has bought a 57,500 sq ft unit for £2.9m at Deeside Industrial Estate.

Both buildings were formerly occupied by US drug developer Catalent Pharma Solutions, which announced a consolidation of its UK packaging operations in November 2015.

Catalent was represented by Cushman & Wakefield in both deals. Rees Straw Chartered Surveyors acted on behalf of ADC, whilst C&W also represented KK Fine Foods.

The vendor of KK’s unit was Kames Capital. The landlord for ADC’s unit is First Investments and the passing rent on the assignment was £204,000 a year.

Catalent occupied both buildings until May 2017. The units include laboratory, testing and office areas as well as warehouse space and are part of the well-established 2,000-acre Deeside industrial area.

Francesco Demarco, account manager in Cushman & Wakefield’s global occupier services team said: “We have generated significant financial savings for Catalent in the disposal of their lease liabilities which is a great result considering the bespoke nature of the buildings, the number of parties involved and the structure of the deals we agreed.”

Graham Jackson, chairman at KK Fine Foods said: “The purchase of this facility has enabled the business to plan for our long-term future with the ability for us to increase turnover to £50m in the near future.”