We’re pleased to announce the letting on Unit 7 at Nine Mile Point Industrial Estate in Cwmfelinfach.
The 11,114 sq ft unit has been let in a five-year deal to the Islwyn Gymnastics Club. The new unit will support the growth in numbers since Marie and Karl Ward took over ownership of the club, previously based in Blackwood Comprehensive School Gym, 12 months ago.
In order to accommodate the club’s needs, we undertook a refurbishment programme to Unit 7, which was previously used for storage, including undertaking works to the roof and floor of the unit. They also worked with the new owners to secure the change of use with the assistance of commercial property agent M4 Property Consultants.
Karl Ward explained that heightened demand for membership at his gymnastics club effectively forced him to find a larger base to accommodate everyone.
“We wanted to stay relatively close to Blackwood so these new premises are ideal,” he said. “We were also very pleased with the flexibility and help provided by FI Real Estate Management and the team at M4 Property Consultants throughout the whole process.”
Kelly Binnie, a commercial surveyor at M4 Property Consultants, said: “When we first met with Marie and Karl to view the property and they explained their proposed use for it we knew it wouldn’t be that straightforward due to the change of use and work required to make it suitable.
“We recognised their commitment to expanding their gymnastics club, the growth they have already achieved and the strength of their business plan and together with the landlord we did everything we could to secure the deal for them and look forward to working them in the future.”
Two other tenants commit to stay
This deal comes shortly after we secured the continued tenancy of two existing tenants at Nine Mile Point, with Mid Glam Packaging Supplies and The Patent Office both committing their futures to the site for five and ten years respectively.
Flexibility is key to operating a successful industrial estate and we were happy to invest in the refurbishment works on the unit and cooperate with the tenants to satisfy all involved parties. We wish Islwyn Gymnastics Club every success.
This letting comes off the back of new leases with Mid Glam Packaging Supplies (unit 8) and The Patent Office (Unit 6) who have both committed to the estate for the foreseeable future. Our asset management strategy for the estate has paid dividends and we are very pleased with the performance of the estate.