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Wales Pure Commercial Finance Announces Major Expansion Plans Rombourne Lets


Cardiff-based financial brokerage, Pure Commercial Finance, has announced its major expansion plans with a new sister company, creating several unique positions and many new jobs in the industry.


The brokerage launched its new brand, Pure Wealth Management this year, which focuses on pensions, investments, protection, tax planning, estate planning, and wealth management.


The expansion comes after a bumper year for the firm, having been named Best Commercial Broker at the Bridging Commercial Awards 2019, and completing almost 400 transactions.


Pure Commercial Finance is a specialist finance brokerage that sources and arranges funding for a range of uses, including property development, bridging finance, commercial mortgages and buy-to-let.


Lack of quality stock


The lack of available good quality stock and the time lag in completing some major lettings contributed to a reduction in take up of large industrial


premises in Wales in 2019, compared with the previous two years.


According to global property consultancy Knight Frank’s research, the total take up in Wales of units over 50,000 sq ft in the second half of 2019 (H2) was 775,000 sq ft over seven recorded transactions. This resulted in annual take up in 2019 of circa 1.4 million sq ft, 600,000 sq ft less than the figures the firm reported in 2018 and almost 1 million sq ft less than 2017.


Neil Francis, head of the Industrial & Logistics division of Knight Frank in Cardiff, said: “The decline in take up would indicate that the market has struggled this year but the reality is that there are still a number of requirements remaining unsatisfied and much of the better quality stock has either already been


transacted or is currently under offer.”


Knight Frank reported that, whereas in previous years take up had been dominated by freehold sales to local occupiers, the figures for the second six months of 2019 included three lettings to national occupiers looking to expand and relocate within the region.


Neil Francis said’ “In Newport, Howard Tennes and Safran Seats have secured 195,000 sq ft and 135,000 sq ft respectively, whilst in Kenfig Industrial Estate, Port Talbot, Oxis Energy have signed a new lease on this recently refurbished 96,000 sq ft unit where the landlord had spent over £1.5 million in refurbishing. Following the fit out Oxis will establish a plant to produce components for batteries.


“These three lettings completed in the final two months of the year boosted the final figures reported and resulted in the 2019 annual take figure of circa 1.4 million sq ft”.


Sale of Cedar House


Fletcher Morgan acting on behalf of private clients have sold the Freehold of Cedar House, Cardiff Gate International Business Park, a self-contained two storey office building of 3,669 sq. ft. with 8 car parking spaces.


The building has been acquired by private investors, who were advised by Peter


20 Clarke, Oscar Clarke Consultants.


Rhys Knight of Fletcher Morgan commented “We had a number of parties interested in Cedar House despite the concerns of Brexit, there is still demand for good quality, out of town office buildings at Cardiff Gate International Business Park.”


COMMERCIAL PROPERTY MONTHLY 2020


Pure helps property investors, developers, business and home owners find the right deal for their them and work with them to ensure long-term success.


They also make sure that the deals introduced to lenders fit their criteria and help them meet their lending goals.


Working with over 100 lenders last year and placing almost 400 deals, 2019 projects ranged from simple property purchases to multi-purpose ground-up developments.


As a company, Pure prides itself on ensuring two simple principles: maintaining a reputation for excellent service and achieving outstanding results for clients. Something that has been awarded by achieving Best Development, Commercial and Bridging Broker at the Bridging & Commercial Awards and Best Development Finance Broker at the SFI Awards.


Fast-growing household product online rental company Switch Rentals has leased a warehouse and offices on landlord Rombourne’s Moy Road Industrial Estate in Taffs Well, near Cardiff, to enable it to continue its expansion programme.


The company, which was formed a year ago, rents kitchen appliances, televisions and furniture to householders across South Wales and the South West. It has taken a three year lease on the 2650 sq ft Unit 19 warehouse, and the 1,300 sq ft Unit 16f office suite at Moy Road.


Rombourne £500,000


has invested more than in the industrial estate in


recent years to create a range of modern workshops, offices, industrial units and self-storage accommodation.


Knight Frank and DLP Surveyors have been jointly appointed with units ranging from 270 sq ft to 25,000 sq ft are currently available to rent


ISG secures £89 million Cardiff mixed- use transport interchange project


ISG has secured an £89 million construction project to deliver the Cardiff Transport Interchange building for Cardiff-based developer Rightacres at its flagship Central Square scheme. The project is being funded by Legal & General and designed by Cardiff- based Holder Mathias Architects.


This project is a further development of the relationship between ISG and Rightacres, that has already seen ISG successfully deliver the new Foster + Partners designed BBC Cymru Wales headquarter building and Nr Two Central Square, home to Hugh James and Cardiff University’s School of Journalism, and significant public realm improvements. This latest win is ISG’s single largest UK construction project of 2019 and takes the contractor’s tally of work awarded at Central Square past £200 million.


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