British Airways facility at Llantrisant acquired in a £7.8m dealPosted: May 20, 2014
By Sion Barry,
A facility occupied by British Airways Avionic Engineering (BAAE) in Llantrisant has been sold to Karlin Real Estate for £7.8m.
DTZ acted on behalf of the vendor, BA Llantrisant Ltd, in negotiating the sale of the 111,000 sq ft building, located with a 12.5 acre site.
The entire site and buildings are let to BAAE Ltd for a remaining term of five years of a lease which was originally facilitated by the Welsh Government in 1994.
British Airways uses this BAAE facility to provide a one-stop solution for the repair and maintenance of a broad range of electrical aircraft components. In addition it also also carry out this repair and maintenance work for a number of third-party airlines.
The property is strategically located within close proximity to the M4 and British Airways’ other Welsh-based facilities in Blackwood and at Cardiff Airport.
Andrew Gibson, associate director at DTZ, said: “We are delighted to have executed the disposal strategy for our client on this asset in such a timely manner.
The asset created significant interest from a wide range of investors, both UK and overseas which culminated in a very competitive bidding process.
“The resultant pricing demonstrated strong appetite for shorter income in assets where tenants appear to be fully embedded.”
Karlin Real Estate was represented by James Mason and Gareth Lloyd of Knight Frank.
Sourced by Wales Online