Speculative industrial development sold as it reaches completion
Deeside Regeneration, a joint venture between Maple Grove Developments and Trebor Developments, has exchanged contracts with Ifor Williams Trailers for the sale of all three new industrial buildings on practical completion, for an undisclosed sum.
Built by Preston-based Eric Wright Construction, the three units provide 84,000 sq ft of accommodation in total, within a quality multi-unit development.
The development has received financial support from the Welsh Government’s Property Development Grant, without which the project would not have proceeded.
Bob Tattrie, managing partner of Trebor, on behalf of the JV partners, said: “We are delighted to have agreed terms for the sale of the entire development to one party, Ifor Williams Trailers.
“They are a local company and this transaction will protect and enhance jobs in the region, thus fulfilling the objectives of the grant support. This is yet another example of us completing major transactions during the lockdown period.”
Andrew Dewhurst, director at Maple Grove Developments, said: “Realising there was pent up demand for high-quality units of this size in Deeside, we took the decision to speculatively develop and, in doing so, have helped support the continued expansion of a highly successful company.”
Minister for Economy and North Wales, Ken Skates, said: “I’m pleased to see that this development has been taken up so quickly, and that it will benefit an existing company.
“This proves the importance of having investment-ready sites and premises to support indigenous business growth and development in line with our Property Delivery Plan and Economic Action Plan.
“It’s positive to see this happening in Deeside with Welsh Government support.”
Agents acting for Deeside Regeneration are Knight Frank and Legat Owen.
Ifor Williams Trailers was advised by Cottrell Commercial.