Cooke & Arkwright
News
Ten-acre Fabian Way site acquired for Sirocco Holdings Limited
12/02/04
A ten-acre site fronting onto Fabian Way, the main arterial route into Swansea City, is to be cleared of many tons of plastic waste and redeveloped by a Jersey based property company.
The site, which was vacated by AWCO in July 2001 and had since been home to a variety of occupiers including a plastics reclamation business, has been purchased for £1.5m by Sirocco Holdings Limited. It has been renamed Fabian Industrial Park and work to clear it is already underway.
David Cochlin of Cooke & Arkwright, the agent that acquired the site on behalf of Sirocco Holdings, confirmed that the majority of the 200,000 sq ft of industrial buildings on the site had already been let to new tenants. “Most of the site is already under offer,” he said. “100,000 sq ft has been taken by Greenham, while heads of terms have been agreed with a haulage logistics company for 45,000 sq ft and a packaging company for 20,000 sq ft. This take up is a clear indication of the strength of the Swansea property market.”
Greenham, part of Bunzl plc, a major supplier of personal protection equipment, is relocating its National Distribution Centre due to substantial expansion of its import range and the acquisition of TUF & Tusker footwear. Up to twenty-five new jobs are expected to be created as a result of the move.
Sirocco Holdings is spending £600,000 on restoring and resurfacing the site and has appointed JBG as the main contractor to undertake the works.
The site at Fabian Way is less than a mile from Swansea City Centre and has a road frontage of over 400 metres. Fabian Way itself provides one of the principal routes from the M4 motorway into the city centre and forms the northern boundary site of Swansea’s flagship regeneration waterfront project, the 100 acre SA1 Swansea Waterfront development.
News of the site’s acquisition has been welcomed by Swansea Council. “We are delighted that the Fabian Way site has been acquired and new jobs will be brought to the area,” said Byron Owen, Cabinet Member for Development at Swansea Council. “Swansea is undergoing a major facelift and this redevelopment will enhance the approach for visitors to the city.”