Venture Wales invests in Navigation Park

£8m proves to be catalyst for significant other private sector investment

13 November 2017

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Venture Wales has secured the acquisition of two plots of Welsh Government land on the Navigation Park Business Park, Abercynon, for the future expansion of their existing successful business starter accommodation.

Phillip Cooper, Chief Executive of Venture Wales, commented, “We are delighted to acquire additional land at Navigation Park.  It is extremely gratifying that Venture Wales’ investment of £8m at Navigation Park to date, has proved to be the catalyst for significant other private sector investment at this strategic site. This new acquisition will enhance our existing facilities and provide the springboard for a further expansion of our extremely successful lettable office space portfolio at Navigation Park.”

Jeremy Symons, Director of Cooke & Arkwright acting for the Welsh Government, added, “It is pleasing to see two further parcels of land on this successful business park being sold to an existing operator on the estate to enable their future expansion in the area.  It can be anticipated that Venture Wales will utilise the land for both parking and expansion, easing congestion on the business park, and also creating further opportunities for employment within the area.  It is a very pleasing outcome for the Welsh Government.”

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