Cooke & Arkwright sells prime Cardiff industrial investment

8 December 2020
  • West Point Industrial Estate Cardiff investment sale by Cooke & Arkwright

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Cooke & Arkwright’s investment agency team has completed the freehold sale of West Point Industrial Estate in Penarth Road, Cardiff on behalf of Telereal Trillium for a price of £3.45m, reflecting a net initial yield of 6.50%. The 33,977 sq ft industrial estate is multi-let to seven tenants including Cardiff and Vale Health Board, City Sprint (UK) Ltd, Clear Channel UK Ltd and Next Bike.

Cooke & Arkwright originally acquired West Point Industrial Estate for Telereal Trillium in 2017. The disposal marks the successful completion of Telereal Trillium’s asset management plan for the property. 

Nick Lawley, investment director at Cooke & Arkwright said, “We’re delighted to have been able to help Telereal Trillium successfully complete their asset management plan with the sale of West Point Industrial Estate. The estate is in a great location with limited supply in the area, and therefore we anticipate it performing well for the purchaser.

“This is the second Cardiff industrial estate we have sold this year and it attracted good interest from a large number of investors, demonstrating that, despite market uncertainty during 2020, there is continued strong demand from investors for industrial investments.”

Knight Frank acted for the purchaser.

I have worked with Jeremy Symons over the past three years successfully leasing and buying property in support of my business. I continue to be very pleased with his knowledge of the market and expertise. Our relationship over this time has resulted in acquiring 20,000 sq ft at Capital Business Park in Cardiff, leasing 11,000 sq ft at Southpoint, and subsequently leasing an initial 42,000 sq ft at Parc Bedwas, followed by a succession of expansions of a further 11,000 and then 47,000 sq ft, enabling us to centralise all of our operations at Parc Bedwas in a single 100,000 sq ft facility. The acquisitions were completed at the perfect time for tenant purposes and the rent fixed throughout the term at very economical rates. A job well done.

Bob James, Aerfin