Karlin Real Estate has acquired from a private investor a 107,685-square-foot British Airways Avionics Maintenance and R&D Facility in Llantrisant, South East Wales, in a transaction valued at GBP7.8 million.
The property is fully occupied by British Airways.
Purpose built for British Airways in 1994, the property comprises three, two-story, steel framed buildings ranging in size from 34,000 – 36,000 square feet on an 8.36 hectare-site (20.67-acres). The property is used for the repair and maintenance of avionics, cabin interiors and safety equipment for its own planes and other airline operators.
Karlin managing director Joseph Self, who heads the firm’s London office, says: “When we find an opportunity that fits our strategy, we move very quickly to execute on the transaction. This was a great opportunity to acquire an institutional quality asset leased to one of the world’s most recognisable companies and we are excited to add British Airways to our roster of tenants.”
Karlin Real Estate was represented by James Mason and Gareth Lloyd of Knight Frank.