Cooke & Arkwright
News
New courtyard scheme completed
31/08/05
Templar Properties has reported that the last two available units at Deryn Court, its recently completed 20,000 sq ft courtyard office scheme, are now under offer. Early sales achieved values of approximately £150 per sq ft whilst later sales have exceeded this benchmark. Templar has retained two units, one for investment and one for its own occupation.
Completed in less than nine months, Deryn Court occupies a one acre site adjacent to Pentwyn Business Centre, the highly successful business unit scheme carried out by Templar and Cardiff Gate Business Parks in a joint venture. Occupiers at Deryn Court include Photostatic, C D Gray Engineers, Edmund Shipway Project Managers and Roblyn Accountants. These are soon to be joined by Salvi Harps, a distributor of fine Italian harps and Logic Software Solutions.
David Stacey of Templar Properties said, “The response to the scheme had been excellent. Market research and the actual interest of prospective occupiers showed that there was a keen interest in smaller office units, particularly from a freehold purchase point of view. Since we completed the scheme all units apart from the two retained by Templar have been purchased rather than let.”
Cooke & Arkwright is joint letting agent at the scheme. Chairman Roger Thomas said that such schemes were increasingly attractive to occupiers who use the mechanism of a pension scheme to buy their premises. “It can prove very efficient for small and medium sized enterprises to purchase office units freehold, sell them into their pension funds and then rent the premises back,” he said. “Deryn Court is a flexible, high quality scheme enjoying excellent local facilities and communication links. This has been reflected in the 10% uplift in unit value between the first to be sold in January and the last in July.”