Property advisory firm JLL appointed to Cardiff Gate Business Park

It has been appointed sold agent for the remaining stake in the park owned by Cardiff Gate International Business Park Ltd

Property advisory firm JLL has been appointed as the sole agent for the letting and sale of the remaining Cardiff Gate International Business Park owned assets of Cardiff Gate Business Park Ltd.

The park was originally 100% owned and developed by Cardiff Gate Business Park Ltd and over the last 30 years various parts of the park have been developed and sold.

The developer currently owns around 25% of the park, that includes 55,000 sq ft office space.

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The portfolio of Cardiff Gate Business Park Ltd includes a mix of let and vacant office buildings as well as approximately 20 acres of prime development land. The first investment being marketed by JLL on behalf of Cardiff Gate Business Park Ltd is 20,325 sq building let to Regus with an asking price of £3m.

Last year JLL acted for SSE who owned Ty Meridian on the park, in a letting deal creating a new HQ for Creditsafe. The investment was subsequently sold. It also disposed of the investment in the Cardiff Audi site on behalf of a private investor.

The business park benefits from being adjacent to the established Cardiff Gate Retail Park and the Pontprennau residential estate with a new 2,500 unit residential development proposed to the west of the park.

Rhydian Morris of the Cardiff office of JLL, said “Our team has a strong track record at Cardiff Gate, which includes the investment sale of the 35,000 sq ft Cardiff Audi dealership as well as the 50,000 sq ft Creditsafe occupier letting and subsequent investment sale of Ty Meridian.

“We are delighted to be the sole adviser to Cardiff Gate Business Park Ltd and given the quality and variety of available buildings and development sites, we are confident they will generate strong interest from the market.”