21 Jun 2017
M7 Real Estate nails down Screwfix
London, 21st June 2017 – M7 Real Estate, the pan European investor and asset manager, announces that, it has secured the letting of 4,038 sq ft at Pontymister Industrial Estate (the “Estate”) in Risca, South Wales to Screwfix Direct Ltd for a term of 10 years on behalf of a major institution.
Located with immediate access to the A467 linking Newport and Brynmawr, the Estate offers a range of unit sizes across five terraces totalling 18,800 sq ft and is surrounded by a mix of commercial occupiers including Tesco Extra, Aldi and KFC. The letting to Screwfix, as the anchor tenant, is the first major step in a planned strategic shift in the tenant profile of the Estate from local occupiers to trade and retail occupiers.
Phil Egan, Asset Manager at M7 Real Estate commented: “We are delighted to welcome Screwfix to the scheme. This key letting has started the repositioning of the asset to a trade park facing scheme. The change in strategy has also opened up the roadside development options at the front of the site which we expect to drive further performance once fully developed”.
M7 Real Estate currently manages 45 estates across Wales with a combined floor area of 1.58 million sq ft.