Mabey Group has paid £13 million for an 182,506 sq ft speculative warehouse plus a further 18 acres of land at Newhouse Farm in Chepstow, South Wales.
An application to double the size of the facility has been tendered to Monmouth Council so that the company can manufacture and distribute wind turbine towers, both for onshore and offshore applications.
In total the company will invest some £38m in the facility, which when completed will be capable of fabricating turbine tower sections up to 5m in diameter and 40m in length.
Lambert Smith Hampton and DTZ acted on behalf of Ciel Properties, who asset managed the landlord’s interests in the transaction.
