A factory site once occupied by Tillery Valley Foods near Abertillery, before it collapsed into administration with the loss of 200 jobs, has been acquired in a £1.25m deal.
The freehold interest in the empty site, marketed by the Cardiff office of property advisory firm Knight Frank, has been acquired by independent commercial property management firm Industruct.
In its first acquisition in south Wales, the Leeds-based company plans to redevelop the 116,520 sq ft factory, which occupies a seven acre site at the Cwmtillery Industrial Estate, into a number of modern industrial units for local businesses. The new units will start at 5,000 sq ft.
Global property consultancy Knight Frank advised the vendor, Cable Property Management, in the sale of the site. Tillery Valley Foods ceased trading in 2023.
Neil Francis, head of Knight Frank’s logistics and industrial division in Cardiff, said: “It was devastating news for the local community when the food products business went into administration two years ago, but this acquisition by Industruct is equally good news.
“The company is expert at adding value to commercial property and this first venture into the south Wales property market is a vote of confidence in the long term prospects for the region.”
Ceri Hartnell, head of asset management at Industruct, said: “We are already on site carrying out extensive refurbishment and upgrade to the existing buildings. We will divide and reconfigure the existing buildings to provide a range of production and logistics units from 5,000 sq ft upwards.
“We are looking to create modern and well-equipped industrial accommodation in a range of sizes and flexible options to give businesses from the area and further afield premises that exactly match what they require.
“We are happy to work with potential tenants to explore how the space can be divided if required, and can work alongside potential new tenants to split the property into a configuration that works best for them.”
Cwmtillery Industrial Estate is two miles north east of Abertillery.
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