One of the biggest industrial sites in Wales has been brought to market. US manufacturer 3M has appointed property advisory firm Colliers to sell its 40-acre factory site in Gorseinon, Swansea, after announcing last year its plans to close the operation.
The site is the American company’s oldest manufacturing facility outside the US and dates back to the 1950s. It provides 358,114 sq ft of storage, production and office space across several buildings.
An asking price has not been quoted by Colliers. However, bids will reflect rising construction and borrowing costs.
3M is moving production at the site to its operations globally, including Bangor in Northern Ireland. At the time of the announcement it said it was experiencing ongoing under utilisation impacted by changes in markets it serves, namely the personal care industry, the collision aftermarket and vehicle repair centres.
The closure will see around 100 jobs lost
The site is being marketed by Colliers in its entirety or in plots of 10 acres. The US firm is expected to cease operations at the factory in the first quarter of 2023, ahead of decommissioning and remediation work. That work and a sale of the site is not expected until Q2 of 2024.
3M doesn't intend to carry out any demolition work after completion of decommissioning and remediation.
Colliers wouldn’t comment on whether the site could be repurposed by any new owner(s) for residential, but confirmed there is already strong interest in the marketplace. The site is currently identified by Swansea Council for general industry and storage and distribution use.
The Colliers sales brochure says: “ The site has the planning potential to accommodate a reasonably wide range of different planning uses, as well as a mixed-use project.”
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