Strong bidding for landmark St Athan’s building at auction

Over £1.25m raised for clients including the Welsh Government

29 April 2016

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Over £1.25m was raised when 70% of Lots were sold at Cooke & Arkwright’s property auction on behalf of the Welsh Government and other clients on 27th April. The auction, which took place at the Village Hotel in Cardiff, was very well attended with some Lots attracting a good deal of interest. Tathan Hall, a landmark building in the village of St Athan in the Vale of Glamorgan, attracted particularly strong bidding and was sold to a developer. Other lots included semi-detached houses in need of renovation in Rassau and Ebbw Vale, land in Newtown and Barry, retail units in Pontypridd, and a former cadet hut in Brynamman, all of which exceeded their guide prices.

Rod Perons, Director of Cooke & Arkwright’s Land Agency comments, “We are pleased with the successful outcome of the auction, our first this year.  If anyone wishes to enquire about unsold Lots please contact us. We hope to hold another auction in the autumn and early entries are invited. Auctions can provide greater marketing exposure for individual properties and particularly suits properties in need of refurbishment or unusual properties that may be difficult to sell by other conventional means.”

Please click here to go to our Property Auction page to access the results of the auction.

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