Welsh Warehouse let to battery operator

Lithium battery manufacturer and distributor OXIS Energy has taken 96,521 sq ft warehouse at the South Wales Distribution Centre industrial estate in Kenfig from landlord M7 Real Estate.

OXIS Energy will use the facility as its main manufacturing plant in the UK.

South Wales Distribution Centre was acquired on behalf of a major fund in 2018 and is an established industrial estate totalling 495,000 sq ft that is located adjacent to the M4 motorway between Swansea and Cardiff.

“OXIS Energy represents another great addition to this estate and it is a significant letting in terms of both the commitment and covenant,” said M7 asset manager George Gaynor.

“Moreover, this letting demonstrates the strong rental growth in the South Wales industrial market, where well specified space is at a premium, and is exactly the kind of asset management we seek to undertake to generate value from our assets.”