Savills, on behalf of the joint administrators Jim Tucker, Ed Boyle and David Pike, has sold Aviation House, a warehouse on Waterton Industrial Estate in Bridgend, Wales. The building was purchased by Willis Asset Management Ltd for £3.85 million.
Aviation House provides 123,431 sq ft (11,467 sq m) of purpose built warehouse and production space including 26,808 sq ft (2,490 sq m) of office accommodation. The warehouse is on a self contained site extending to approximately 9.15 acres (3.7 hectares) with an expansion area of 2.66 acres (1.08 hectares) to the rear.
Willis Asset Management Ltd is a 100% owned subsidiary of US based Willis Lease Finance Corporation and has acquired Aviation House as its UK headquarters from which it delivers both aviation consultancy and engine maintenance services to the aviation industry.
Karl Gibson, Vice President at Willis Asset Management, says: “This investment provides the business with an excellent facility comprising both modern and professional office space as well as substantial warehousing and maintenance workshops from which to service our global customer base and forms a key component in the continued expansion and growth of the wider Willis Lease Finance Corporate platform of services.”
Gary Carver, director in the business space team at Savills Cardiff, comments: “Aviation House is located on the well established Waterton Industrial Estate and benefits from excellent road links to Bridgend town centre and the M4. We received very strong interest in the property from a number of parties and are delighted to have agreed terms with Willis Asset Management Ltd.”
Neil Francis, partner at Knight Frank in Cardiff advised Willis on the purchase of the building. He adds: “Aviation House is a very attractive building and will enable Willis to make an important contribution to the local economy.”