The latest quarterly report by the Industrial Agents Society (IAS) has been published with the largest leasehold deal for the quarter being listed as the 49,517 sq ft letting at Mamhilad Park Estate to Juvela Limited.
South Wales recorded 72 transactions totalling 610,000 sq ft of industrial space during the period. This is a 10% increase on the same period in 2023. There were six deals of over 50,000 sq ft with the largest being the sale of 83,000 sq ft at Abergorki Industrial Estate, Treorchy.
Commercial property agents JLL and Cooke & Arkwright are acting on behalf of Johnsey Estates UK Limited to market available industrial and office space respectively at Mamhilad Park Estate. Kate Openshaw, Senior Surveyor of JLL said: “We have seen a positive start to the year across the South Wales industrial market with robust levels of activity. The recent letting at Mamhilad Park Estate demonstrates one of the key strengths of the site, which is its flexibility to accommodate occupier requirements, coupled with the Landlords desire to work with occupiers to create a solution that accommodates their wants and needs. The team at Johnsey Estates works with occupiers to create tailored proposals that can offer flexibility and continue to work with them as their property needs change, enabling occupiers to futureproof. It is factors like these which are driving the demand we are seeing for space at Mamhilad Park Estate.’’
James Crawford is Chief Executive of Johnsey Estates. He added: “It is well documented that the commercial property market has been affected by weak lending conditions and a fragile economy. However, our continued investment in Mamhilad along with our ability to adapt and pivot our offering to meet the changing needs of our occupiers means that we have maintained strong occupancy levels. Nonetheless, we are mindful that this is no time to take our foot off the pedal so will continue to work with both prospective and existing occupiers to create the specific work space that they need.”