Port Talbot’s Harbourside Business Park development fully let

Global engineering firm takes lease on all 8,500 sq ft at Llewellyn House

21 October 2015

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Cooke & Arkwright’s Office agency has let all 8,500 sq ft at Llewellyn House, in Port Talbot’s Harbourside Business Park development to Thyssen Krupp, a global engineering and project management consultancy in the oil, gas and power developments industries. The ten-year lease, secured with joint agents Alder King, brings the 67,000 sq ft high-tech development by Deryn Properties (Investments) LLP to full occupation, with long leases at the two other buildings to Her Majesty Court Services, Tata Steel UK Ltd and TWI Ltd.

Ben Bolton, Director of Business Space at Cooke & Arkwright commented: “This is a great new occupier for the developing Port Talbot region where the Harbourside project to redevelop the docks, the Research and Development Village, and improvements to infrastructure and communications, including Port Talbot Parkway station’s redevelopment, are raising the profile of the area and attracting technology-led investors and companies. Deryn Properties are close to completing a similar scheme on development land they secured on Baglan Energy Park nearby.”

Cooke & Arkwright’s Investment agency sold the 21 acre site, originally known as Llewellyn’s Quay, on behalf of Associated British Ports in 2006. The firm went on to provide development advice to Deryn Properties on its 25,000 sq ft office and magistrate’s court development for HM Court Services at Harbourside, and subsequently brokered the sale of the completed investment to Keills Fund Managers in 2011.

Harbourside is situated on Harbour Way, Port Talbot’s new £107m Distributor Road which connects the M4 to the Harbourside area.

Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

Steve Phillips, Group Finance Director, Welsh Rugby Union Group