King Sturge advises Aviva Investors on £2.86 million sale

Hi-tech manufacturing plant situated on the well established Bridgend Industrial Estate Bridgend, Mid Glamorgan

Safegold Properties, a London based property investment company, has recently purchased a major South Wales manufacturing facility for £2.86 million.

This hi-tech manufacturing plant is the UK Headquarters of Harman International, a worldwide leader in the audio and electronic sector. Harman International Industries USA is a $3.5 million turnover company and its European research and development operation is also based in Bridgend. The 8 acre site is situated on the well established Bridgend Industrial Estate, a short distance from junction 35 of the M4 and comprising over 150,000 ft² of modern accommodation.

The investment was sold by Aviva Investors through King Sturge, with Pavillion Capital Partners advising Safegold Properties.

Jonathan Phillips from the Cardiff office of King Sturge commented, “Although this is a good quality industrial asset with 8 years unexpired on the lease, Aviva is improving their cash position to take advantage of buying opportunities that may arise later this year. This asset is a relatively small lot size within the specific fund and hence this fits with the current strategy of disposing of some of the smaller, more secondary holdings”.

source : King Sturge