JV sells Deeside industrial units

Deeside Regeneration, a joint venture between Maple Grove Developments and Trebor Developments, has sold three speculative warehouses totalling 84,000 sq ft at the industrial park in North Wales.

Under the deal, trailer manufacturer Ifor Williams Trailers will acquire the units at Deeside Enterprise Zone on Boundary Road in Flintshire for an undisclosed sum.

The scheme’s development cost is £6.3m, and the units are close to completion by the main contractor Eric Wright Construction.

Deeside Enterprise Zone is strategically located on the Welsh-English border, on a site known as Zone 1 at Deeside Industrial Estate, fronting the A494 Welsh Road. It aims to attract new companies, especially in the logistics and technology sectors, to North Wales.

The warehouses in question range in size from 10,280 sq ft to 50,140 sq ft. The project has been part-funded by the Welsh Government’s Property Development Grant programme.

Bob Tattrie, managing partner of developer Trebor, said: “We are delighted to have agreed terms for the sale of the entire development to Ifor Williams Trailers.

“It is a local company, and this transaction will protect and enhance jobs in the region, thus fulfilling the objectives of the Welsh Government’s grant support. This is an example of a major transaction completing for us during the lockdown period.”

Andrew Dewhurst, director at Maple Grove, added: “Realising there was pent-up demand for high quality units of this size in Deeside, we took the decision to speculatively develop and, in doing so, have support the continued expansion of a highly successful local company.”

The project proves “the importance of having investment-ready sites and premises to support indigenous business growth and development”, according to Ken Skates, the Welsh Government’s minister for economy and North Wales.

Agencies Knight Frank and Legat Owen acted for Deeside Regeneration in the transaction, and Cottrell Commercial acted Ifor Williams Trailers.

 

 

 

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