Independent tyre wholesaler Oak Group Holdings has acquired a 155,150 sq ft logistics unit at Queensway Meadows industrial estate in Newport from Freshwater Group of Companies for £7.75m.
The warehouse was previously occupied by production company Urban Myth Films and was used for TV projects such as The Lazarus Project and The Undeclared War.
The unit, which is located close to the M4 and M5 interchange, is Oak Group Holdings’ first site in Wales.
Peter Cross, commercial director at Oak Group Holdings, said: “Oak Group Holdings is delighted to add this new distribution facility to our network. The site is exceptionally well located, with excellent access to the M4 and M5. We look forward to bringing the facility online in the near future, where it will play a key role in enhancing the availability of our brand portfolio and strengthening our service capabilities across the UK.”
Kate Openshaw, industrial and logistics associate at JLL, which acted for the vendor on the deal, added: “Vacancy rates across Wales’ industrial market are moving to the lowest levels we have seen this decade. That brings challenges as the continued lack of new high-quality stock means supply levels are constrained against a background of continued occupier demand.
“Increasingly we are seeing occupiers look to purchase buildings in a market where Grade A options are limited, prioritising outright ownership where investment is required to adapt the space to meet their needs. It’s important that occupiers like Oak Group Holdings are able to act fast when they spot an opportunity like this, and it was great to help them complete this expansion into Newport.”
Paul Hobbs, director in the industrial agency team at Avison Young, which acted for Oak Group Holdings, said: “We were delighted to assist the North West based team in their strategic acquisition. Since the removal of the toll, Newport creates some excellent value property opportunities when compared to Bristol and it’s great to be part of one of the largest property deals in Wales during 2025.”
