Trio of property deals at Cardiff automotive hub

Penarth Commercial Properties were advised by Tide Advisory and Fletcher Morgan

Three property deals has been struck at the automotive hub on Penarth Road in Cardiff.

Penarth Commercial Properties, following a strategic review of its assets, has let a prime roadside unit to Kwik Fit, strengthening the operator’s South Wales presence.

It has also sold the freehold interest in the former Transit Centre to Buy & Go Cars, which is establishing a new flagship site in Cardiff.

The third deal has seen the sale of the Fordthorne business and adjoining land to Arnold Clark, with the group acquiring the site and existing Omoda and Jaecoo operations.

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The transactions underline continued investor and occupier appetite for prime automotive locations, with Penarth Road remaining a key focus for operators expanding in South Wales.

Penarth Commercial Properties were advised by Tim Carr of Tide Advisory, who carried out the negotiations and lead the transactions through to completion. The Cardiff office of property advisory firm Fletcher Morgan marketed the properties.

Matthew Jones, director at Fletcher Morgan, said: “These transactions demonstrate the continued depth of demand for well-located roadside and automotive assets in Cardiff. Penarth Road remains one of the city’s most active corridors, and we are pleased to have delivered a strong set of outcomes for our client.”

Roger Pugsley, chief executive of Penarth Commercial Properties, said: “This programme was driven by a clear strategic mandate. Tim Carr of Tide Advisory led the restructure and defined the execution strategy, which Fletcher Morgan then helped deliver effectively in the market. This leaves Penarth Commercial Properties well positioned to expand its commercial property investments in the region.”