A £2.25 million refurbishment programme at Dominions Way in Cardiff has helped secure a series of lease renewals from businesses based at the trading estate.
St Bride’s Managers, which owns the scheme, has refurbished and modernised two-thirds of the estate, originally developed during the 1980s.
The real estate investment management firm has worked with occupiers to complete the improvements in phases, allowing businesses to continue trading during the work while preparing the estate for its longer-term use.
Six occupiers have committed to new leases alongside the refurbishment programme. They include Wolseley, Smith Brothers Stores, LBS Builders Merchants, Europcar and GSF.
Located on Newport Road in the east of Cardiff, Dominions Way provides industrial and trade counter accommodation approximately two miles from the city centre.
Following the recent lease renewals, only two terraced units remain available. Each provides just under 5,000 sq ft of space.
The remaining units are being marketed by commercial property consultancy Knight Frank.
Tim Burke-Murphy, fund manager at St Brides Managers, said: “We have been working closely with our occupiers at Dominions Way to plan these works around their lease events, ensuring they could continue to trade while improvements were underway. That has helped to rejuvenate the core of the estate, while retaining a really good mix of tenants. The improvements have future-proofed Dominions Way, and we plan to continue investing in the remainder of the estate to support our wider plans.”
Neil Francis, partner at Knight Frank Cardiff, added: “Dominions Way has always let really well and the refurbishment programme undertaken has transformed the estate into a premier city centre trade counter location. There is a dearth of high-quality space so close to Cardiff city centre and the remaining units represent a good opportunity to join an already solid line-up of occupiers.”
