Broadhall have announced the launch of Loc8 as the new estate name for the major distribution park at Magor, formerly known as Gwent Europark.
Loc8 is a greenfield development by Morrison Gwent Limited, a joint venture company owned by AWG Developments Limited and Broadhall.
The site is allocated as a distribution warehouse park with outline planning consent on a total area of 200 acres of which around 70 acres remains available for development.
The park was launched in 1995 with the construction of 640,000 sq ft for Tesco, and became firmly established in 1999 when Wilkinson Stores constructed 850,000 sq ft on a site of 72 acres.
A further site of 16 acres was subsequently sold to Lidl and planning consent was granted for a distribution unit of 323,500 sq ft.
It is understood, however, that Lidl are now progressing with an alternative site on the outskirts on Bridgend.
The Wilkinson's transaction is probably the most notable distribution deal in South Wales, not only due to its size but also the fact that this was a regionally mobile inquiry to service the southern half of Britain, not just to service the South Wales area.
It is good to see a major operator prepared to take a view on the Severn Crossing tolls to secure a site with free-flowing motorway links (eastwards on the M4 at least).
"Loc8" is an innovative brand for this location and is probably slightly more relevant than "Gwent Europark" following the disbanding of Gwent County in 1995.
Rhys Morgan of Knight Frank is positive about Loc8's position in the market.
He said, "With a working population of half-a-million within 30 minutes and a more positive approach now taken towards grant assistance for distribution projects, we believe there is the opportunity to attract further distribution projects to our Magor site.
"The infrastructure and services are already in place and our clients are offering land for sale or building packages".