Cooke & Arkwright

Longford boosts Welsh portfolio

20/04/2010

Acting on behalf of the Longford Investment group, Cooke & Arkwright has completed the purchase of Leeway Court in Newport.  The industrial / warehouse esate is a former WDA (Welsh Development Agency) site, comprising four terraced blocks totalling 41,179 sq ft in unit sizes of 2,440 sq ft and 1,275 sq ft.

The estate is some two miles east of Newport City Centre with easy access to Junction 24 of the M4 motorway.  It has proved to be a popular location and continued improvement is expected under the new owners.

The property was sold at a net initial yield of 9.68%.  Fletcher Morgan acted for the vendors and has been retained with Cooke & Arkwright as letting agents.  Longford Investment owns over 300,000 sq ft of industrial/warehouse accommodation in South Wales and Bristol, and was founded in 2006 by Jane Gwillim-David.  Longford aims to provide good quality, secondary industrial/warehouse space at reasonable prices to local and national businesses.  The company endeavours to develop strong working relationships with all tenants in order to encourage long term occupancy.

Cooke & Arkwright and Fletcher Morgan will be marketing the few available units at Leeway Court to local businesses.

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