The biggest commercial office investment deal in Wales in the last year has been struck in an eight figure transaction for a 150,000 sq ft office campus in Newport.
In its first property deal in the UK, Middle Eastern family real estate firm Al Wazzan (AW Properties) has acquired the three office scheme currently occupied by aerospace giant Airbus at Celtic Springs Business Park in Newport.
The value of the off market deal has not been disclosed, but is understood to be worth around £26m. It provides an exit for UAE-based global alternative investment firm Gulf Islamic Investments Group (GII), which acquired the asset from developer Robert Hitchins in a £30m deal back in 2015.
