Pi Real Estate – a sister company to Manchester based property investment and development company, Hurstwood Holdings – has acquired a 60,108 sq ft industrial building on Amlwch Industrial Estate in Anglesey.
The self-contained building is situated on a 7.67 acre site and has remained vacant following Rehau’s closure of the Anglesey factory in 2019. Pi Real Estate has appointed independent architectural practice, AXI to undertake a complete refurbishment of the existing property. The proposed plans will see the buildings transformed to create new office, workshop and warehouse space that can accommodate requirements from 500 sq ft up to 60,000 sq ft and will appeal to a wide range of businesses from start-ups to those looking to expand.
Andy Park, Managing Director of Hurstwood Holdings and Director of Pi Real Estate, comments: “The closure of the Rehau factory was a huge loss to the island, which has an abundance of skilled workers providing a major resource for an incoming occupier. Working with the local council, we plan to make a significant investment to reconfigure the property to provide a state of the art, modern facility that will also have long term positive economic impact on the region.”
Andy adds: “Amlwch Industrial Estate now sits in a recently designated Enterprise Zone meaning that new occupiers will be able to benefit from the associated incentives.”
Lambert Smith Hampton acted on behalf of the vendor and former occupier, the Rehau Group. King Street Commercial advised Hurstwood Holdings on the purchase.
Legat Owen is the retained letting agents.
Together provided part of the funding for the deal.