South Wales property entrepreneur Roy Thomas has bought a 30-acre factory complex in South Wales for more than £6m.
The deal is thought to be one of the biggest industrial deals in Wales this year.
Thomas bought the Visteon factory complex, which is situated on Fabian Way, the main arterial route into Swansea city centre, to increase his exposure to the industrial market. It comprises 845,000 sq ft of space including a 510,000 sq ft main manufacturing unit.
Thomas said: ‘I will be looking at an active refurbishment and sub-division programme to bring this accommodation back into commercial use.’
The site was developed in 1960 for Prestcold, a fridge manufacturer, and Ford bought it in the mid 60s. Visteon, a service provider to automotive manufacturers, has owned it since then.
King Sturge advised Visteon Corporation and DTZ advised Roy Thomas. King Sturge and DTZ will act as letting agents for the complex. Royal Bank of Scotland Corporate financed the deal.
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