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LONDON-Furniture retailer MFI has agreed to lease the 257,589-sf former Alcoa unit at Llantrisant Business Park, Llantrisant, South Wales. This represents the largest industrial transaction in South Wales and the South West of England this year.

The property comprises a modern manufacturing and distribution unit, standing on a 15.72-acre site. South Wales based investor/developer, Formaction, acquired the property twelve months ago and following refurbishment has let it on a 15-year lease at £3.25 ($5.25) per sf to MFI. MFI is expanding rapidly in the region after buying local firm, Sofa Workshop Direct, last year, and it will increase its presence in the area five-fold when it moves from its existing 50,000-sf facility.

Lambert Smith Hampton acted on behalf of Formaction.

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