Central Union Developments and Mobax Securities have paid the Welsh Development Agency £6.5m for the freehold of a 13,935 sq m (150,000 sq ft) warehouse at Queensway Meadows, Newport, south Wales.
The three-year old property stands on a 4.2ha (10.41 acre) site and is let to telecommunications company Nortel for 15 years from January 1993. The lease incorporates a tenant’s option to break in January 2003.
Lambert Smith Hampton advised Central Union Developments.
EGi News 23/07/96
