18,000 sq ft Industrial Unit and Compound in Central Newport Location Sold for Residential Development.

Acting on behalf of the private owner of an 18,000 sq ft industrial unit and compound in central Newport, M4 Property Consultants managed and completed a very competitive bidding process for the commercial property.

The former Newpack Ltd site on Factory Road has been purchased by Interstrand Ltd, who will be seeking to redevelop the site for residential purposes.

We are delighted to have completed the sale of this industrial unit in Newport to Interstrand Ltd, represented by Knight Frank, for residential development.

This was a great result for our client. When they initially approached us to sell the site, we recommended that we should not only consider a sale to other industrial occupiers, but also introduce the site to those interested in potential redevelopment. Following a competitive bidding process, we had offers from both of these interested groups. However, the developers were more aggressive in their bidding and we were able to maximise our clients return.  We are pleased that having worked hard for many years in the building, our client can now enjoy their retirement.

The developer already has some strong ideas as to what can be achieved on the site and are likely to be coming forward with a planning application shortly. It was a pleasure dealing with a buyer who acted swiftly and professionally throughout the purchase. We look forward to seeing the future development of the site.

Despite what many people would believe due to COVID, demand for industrial units and development opportunities across south Wales is currently extremely high. We are working on a number of similar potential instructions, and hope to bring these forward in the near future.