The high demand for industrial and warehouse property in Swansea is soon to be met thanks to an initiative by a private property company to split the former Signode packaging plant in Fforestfach into individual units.

Lambert Smith Hampton (LSH) has been appointed as joint agents alongside Hiron Morgan Yapp to market several refurbished properties for lease or purchase on behalf of the site’s new owners, Prospect Estates Ltd.

Spanning 17.5 acres and located on Queensway, an established business location in Fforestfach on the perimeter of Swansea, approximately 340,000 sq ft of old and empty industrial and office stock is to be renovated, divided into a variety of smaller affordable units and brought up to modern standards.

Jason Thorne, Director in LSH’s Industrial Agency team, said: “The division of the site will provide much needed industrial and commercial accommodation in a location that benefits from a strong strategic position close to junction 47 of the M4.

“We’ve already secured our first letting and had a number of other serious enquiries by prospective tenants. We are confident that the combination of good quality buildings with eaves of over seven meters, yard areas and good access will provide the market with exactly what it needs.”

Prospect Estates Ltd are UK wide specialists in the acquisition and renovation of large industrial stock, with decades of experience of bringing obsolete property back onto the market through renovation and the creation of self-contained units in a mix of sizes.

Says Peter Shackleton, Development Manager at Prospect Estates: “We’re delighted to be operating in Swansea again and confident this it the right time and the right location to implement what we know to be a successful property development model which helps sustain growth within local business communities.”

Demolition work has begun on the site with a nine month build planned and completion of the first unit scheduled for May 2015.