Speculative industrial development signals confidence in Aberystwyth

Strong interest to-date

20 September 2017

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A new speculative industrial site is well underway at Glan yr Afon Industrial Estate, Aberystwyth. Parc Melin is being developed by Ellis Development Company, with grant support from Welsh Government, and will eventually provide up to 60,000 sq. ft. of warehouse space, in units ranging from 1,196 sq ft. Phase One is due to complete in the first quarter of 2018.

There will be 26 units located in five separate blocks, which can be leased or purchased individually or combined to create larger space if required. They are being offered to let or for sale by sole agents Cooke & Arkwright on behalf of the developer Ellis Development Company.

Parc Melin is located in the older-established Glan yr Afon Industrial Estate which is just two miles from Aberystwyth town centre, directly accessed via the A44. Existing occupiers on the estate include Screwfix, Jewsons, Tile & Bath Co., Howdens, Plumb Centre, Brandon Hire, City Electrical Factors, PTS and Europarts.

Tim Lawley, Associate Director with Business Space comments, “Demand in Aberystwyth has bucked the trend in recent years and there is still high demand for modern warehouse space in the area. In this instance, the high quality units offer a great deal of flexibility and are well located with prominent frontage onto one of the main estate roads, leading to strong interest to date, and rents are being achieved at a level that reflects this. It’s very encouraging to see a speculative developer send a positive signal to the sector in this way.”

  • Units 1.3 and 1.4 are pre-let.
  • Unit 2.1 is pre-let.
  • Units 3.1 and 3.2 are pre-sold. 
  • Unit 3.3 is pre-let.
  • Unit 3.6 and 3.7 are pre-sold.

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.

The Welsh Rugby Union Limited, Welsh Rugby Union Group