In a significant transaction for the South Wales commercial property market, the first phase of a major industrial scheme in Bridgend has been acquired in a multi-million-pound deal.
Details of the Central Park Transaction
Prominent developer Robert Hitchins has successfully sold phase one of its Central Park development, located on the Bridgend Industrial Estate, to a consortium of private investors. The scheme was brought to market with a guide price of £8.5 million.
The sold asset is a substantial, fully-let industrial and trade counter development spanning 83,693 square feet across 6.2 acres. Its prime position close to Junction 35 of the M4 offers excellent connectivity. The site comprises 12 individual units, with a strong tenant roster that includes PCI Pharma Services, Edmundson Electrical Ltd, and United Tooling Solutions.
A Strategic Asset Management Win
John Jones, senior asset and development manager at Robert Hitchins, commented on the strategic importance of the sale. "The transaction completes the asset management strategy for the site which was originally acquired for re-development in 2006," he stated.
Jones emphasised the scheme's role in the local economy, adding: "Central Park is an excellent example of how we deliver best-in-class commercial space that supports business growth and brings skilled employment to the local economy." He confirmed that Robert Hitchins continues to actively pursue new investment and development prospects across the region to generate construction and long-term employment.
Continued Investment in the Bridgend Area
This deal follows other recent substantial investments by Robert Hitchins in Bridgend, reinforcing its commitment to the area. Last year, the developer completed an 82,000 sq ft warehouse for parcel operator Evri and a new 20,000 sq ft MKM Building Supplies outlet. Both of these assets remain core holdings within the company's portfolio.
The Gloucestershire-based firm, a leading developer, investor, and asset manager in the south west and South Wales, handles the full development process from site acquisition through planning and construction to long-term investment.
Powell Lloyd and Knight Frank acted as joint agents for Robert Hitchins on the disposal, with legal advice provided by Davies & Partners.
Dan Evans, director at Powell Lloyd, said: "Both Knight Frank and Powell Lloyd have been delighted to represent Robert Hitchins in this deal and we are pleased to achieve a successful outcome for our client in a challenging market. Robert Hitchins has developed and maintained Central Park to an exceptional standard which has supported strong occupier demand and a market leading rental tone for the area."
