The former headquarters and warehousing for a Newport business has been acquired in a deal worth £2.25m.
Leeway House, on the city's Leeway Industrial Estate, was previously occupied by D & S Wholesale a business owned and run by Newport entrepreneur David Lippiatt.
The property, which comprised a 70,000 sq ft building on a three acre site with one of the acres of land available for redevelopment, has been acquired by Heartlands Furniture Ltd.
advertisement
The freehold building, once refurbished and converted, will be run as a franchise of the Birmingham-based self-storage business Storage King which operates from some 40-plus sites right across England and Wales. Some 10 jobs are likely to be created by the new venture.
Newport-based Hutchings and Thomas Chartered Surveyors, brokered the sale of building while John Bodinham, of John Bodinham & Partners, acted for Storage King.
Glenn Haley, of Hutchings & Thomas, said: "This deal is solid evidence, if any is needed, that despite the current gloom affecting the commercial property market, there remains very strong demand for freehold industrial property."
If you liked this article and would like to share it with others on the web who might be searching for good content we've made it easy for you to do it.
At the bottom of all articles, you'll see links to six sites. These sites - commonly called 'social bookmark' or 'social news' sites - have large communities of web users who share and rate interesting, useful and fun things on the web.
Clicking the links will automatically add the address of the story you are reading to one of these sites, letting you share it with others. Each site will ask you to register to share stories. Registration is free and once a member, you can store, recommend and search for stories that interest you.
Print
Email this
