Cooke & Arkwright
News
North Wales Business Park Acquired
18/10/06
Ashtenne Industrial Fund has acquired units 20-28 at St Asaph Business Park in north Wales. First developed by the Welsh Development Agency in 2001, the site totals 110 acres and is widely recognised as the premier business park in north Wales.
Occupiers include the Welsh Assembly Government, North Wales Police, ELWA, Pilkington Glass and the RNLI.
The 24,300 sq ft self-contained office development was acquired for Ashtenne by Cooke & Arkwright in a £3m transaction.
Graham Davies, Investment Director at Cooke & Arkwright said, “The nine units provide the Fund with a terrific spread of investment risk. Tenants include University of Wales Bangor, Tourism Partnership Wales, and the National Assembly for Wales. “The rental income of £198,000 per annum also offers excellent potential for increase with rents ranging between £7.25 per sq ft to £11 plus.”