THE Bird Group of companies has acquired the former Risca foundry on Pontymis-ter industrial estate from Saint Gobain Pipelines.
The price has not been disclosed.
The 77,000 sq ft structure stands on seven acres and dates from 1969. It is held on a 99-year ground lease.
Originally built for Broad Manufacturing, the foundry was subsequently owned by Glynwed, prior to its acquisition by Saint Gobain in the late 1990s.
The property closed in May 2004 and terms were subsequently agreed with the Bird Group. They plan to develop the site
Richard Hutchings, of Hutch-ings & Thomas, advised the purchaser, who was pleased to acquire another site in Risca. "My client has owned property in the town for over 40 years and was keen to acquire this site adjacent to the A467 dual carriageway," he said.
Saint Gobain was advised by King Sturge.
Chris Sutton, King Sturge's industrial agency partner, said he was happy to agree an off-market transaction to meet his client's needs.
He said: "The disposal was complicated by the ground lease, but we were delighted to agree terms with an investor who has a detailed knowledge of the location and had the ability to complete within a prompt timescale."
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