Richardson completes sale of warehouse facility

A West Midlands family business has sold a major logistics warehouse in South Wales.

Richardson completed the sale of the 110,000 sq ft new build warehouse in Cwmbran to Block Industrial, a joint venture between Copley Point Capital and Brookfield 's real estate secondaries business.

The building is fully let to Crane Process Flow Technologies, who have manufactured parts for the chemical, mining and water treatment industries in Cwmbran since 1934.

Crane Process Flow Technologies is owned by Crane Co, an American conglomerate founded in 1855 which produces highly engineered products supplying industrial products worldwide.

Crane Co is an investment grade credit rated BBB by S&P and Baa2 by Moody 's.

The new facility has been custom designed to suit Crane 's needs, consolidating their operation from their historical site in Cwmbran, modernising their operational processes as well as creating and safeguarding over 200 skilled jobs in the area as a result.

Copley Point Capital is a specialised principal investor and asset manager of real estate assets with fixed income type characteristics.

Construction work was completed by Bowmer + Kirkland.

RCL Partners, the retained advisors to the Richardson family, were advised in the sale by DTRE.

Copley Point Capital was advised by LSH, CMS, SLR Consulting and Brown Bear Building Consultancy.