Wiltshire deals buck market gloom

October 7, 2008

General market pessimism has not held back Alder King’s Swindon agency team, who have recently completed a host of industrial deals in the Wiltshire area.

The five major deals completed by the team this summer totalled over 400,000 sq ft and included a mix of freehold and leasehold transactions.

On behalf of a private investor, Alder King let a 51,800 sq ft industrial unit at established industrial park, Interface Business Park in Wootton Bassett. Ward Thomas Removals took Unit 1 on a 10 year lease, at a rent of £233,100. Ward Thomas Removals are one of the largest removal companies in the UK and will join prestigious national occupiers in the area including Dolby Labs, Zurich Insurance, Fairchild, Del Monte Business and City Link.

James Gregory, head of the Swindon agency team at Alder King, commented: “The occupier market is still there and enquiry levels remain healthy. We have however noticed that in the Wiltshire market there has been a definite occupier shift from freehold properties to leasehold properties.”

Yet despite occupier preference favouring leasehold properties, freeholds are still selling. Alder King recently sold the Beaufort Building, a 53,941 sq ft modern warehouse distribution facility on the Bumpers Farm Industrial Estate in Chippenham, to Primo, the refrigerated case importer and subsidiary of Project First Engineering. The warehouse is well known in the region and was originally used as the Geest banana ripening facility.

James also reported that prime properties are still coming to the market. His team has recently been appointed by Cynergy Components to sell a 57,024 sq ft industrial premises on the Groundwell Industrial Estate in Swindon.

The unit is a former semiconductor fabrication premises, with potential for sub division or redevelopment. It is located on the popular Groundwell Industrial Estate, situated just off the A419, which gives excellent access to Cirencester and the M5 to the north. Junction 16 of the M4 is within three miles to the south of the property. The quoting price for the long leasehold interest is £1m.

Alder King has also been instructed by Trilogie CRE Ltd to sell a 61,804 sq ft former food packaging and cold storage depot, on three acres (1.2 hectares) in Devizes.
The premises comprise of ground floor production and warehousing accommodation covering 61,804 sq ft and first floor office, canteen and ancillary areas extending to 6,355 sq ft. It was previously occupied by Hygrade and has potential for subdivision or redevelopment. Offers are invited for the freehold interest in excess of £1.75m.

Significant interest in both properties has already been received by Alder King from owner occupiers and the team is confident that both will quickly be sold.

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