Deals covering 330,000 sq ft boost Deeside
Legat Owen has completed three deals totalling 330,000 sq ft at the Deeside Industrial Park Enterprise Zone in North Wales.
Westbridge Furniture has acquired a 138,000 sq ft manufacturing facility on Zone 2 from the Universities Superannuation Scheme. Westbridge Furniture will use the facility to facilitate a new supply contract for a major European customer. Legat Owen and JLL acted for USS.
Logistics company Great Bear has acquired the freehold of a 90,000 sq ft distribution facility on Zone 3 from KPMG Restructuring. Great Bear will use the warehouse to service contracts in the Deeside area. Legat Owen and CBRE acted for KPMG Restructuring.
Ralawise has recently completed the purchase of a 108,000 sq ft warehouse/manufacturing facility from Faurecia Automotive on Zone 3. Ralawise will use the facility to accommodate the continued expansion of their operations in Deeside. Legat Owen and Colliers acted for Faurecia and Lamont represented Ralawise.
Stephen Wade, a director with Legat Owen, said: "It is great to see the recovery in both the manufacturing and distribution sectors in North East Wales.
"We have witnessed increasing activity in the market from the start of the year and this is now being translated into deals."
David Jones, principal and chief executive of Coleg Cambria, and chair of the Deeside Enterprise Zone, said: "It is very good to see these positive announcements for the region.
"There is a cautious but clear confidence emerging in many parts of the local economy following a long period of recession."
Related Articles
Analysis - The Subplot
The Subplot | Is the property market’s ‘long Covid’ finally over?
The built environment has hit a turning point and the sharks of private debt are circling. Here’s why financiers think now is the time to up their real estate game. Plus: a supermarket’s decision in Blackburn has wide-ranging repercussions.
