Pencoed Technology Park scheme secures Sainsbury’s and reaches Practical Completion
Deeside Regeneration Limited, a joint venture between Maple Grove Developments and Trebor Developments, has agreed a 10-year lease with Sainsbury’s Supermarkets for a new Argos distribution centre at Pencoed Technology Park in South Wales. The deal sees Sainsbury’s take the lease on the 46,180 sq ft industrial / warehouse facility which reaches practical completion this month.
Designed by Chapter 3 Architects, the building is being delivered by contractor, Andrew Scott Ltd. Knight Frank’s Cardiff office has now been appointed to market the investment.
This speculative project has been supported by a grant from the Property Infrastructure Fund which is delivered by Welsh Government.
Located adjacent to Junction 35 of the M4 motorway, the 5.17-acre site sits within a Tier One grant assisted area offering the highest level of assistance for qualifying projects, supported by the European Regional Development Fund through the Welsh Government.
In line with Welsh Government’s sustainable buildings standards, the scheme is being built to BREEAM Excellent Standard and an EPC A rating.
Bob Tattrie, Managing Partner at Trebor Developments, commented: “The market demand for space at Pencoed Technology Park continues to be significant and is bolstered by the overall lack of supply of good quality space such as this. With the building now complete we are proceeding to market the investment sale of the property which offers a secure return on a prime single-let industrial investment, in a market where few highly sustainable buildings are available to purchase.”
Economy Minister, Vaughan Gething, said: “The Welsh Government is committed to building a fairer, greener and more prosperous Welsh economy and helping to create good quality jobs in local communities, which helps grow our economy. I’m very pleased we’ve been able to invest £2.2m through our Property Infrastructure Fund to support this new development, which is set to create hundreds of new jobs in the area.”
Knight Frank and DLP Surveyors acted for Trebor/Maple Grove. Fletcher Morgan represented Sainsbury’s Supermarkets Limited.