Fast-growing local company leases 51,000 sq ft Cwmbran industrial unit: Knight Frank
Self-adhesive material manufacturer Nu-Coat has leased a 51,000 sq ft industrial unit at Avondale Industrial Estate in Cwmbran to enable it to expand its sales globally.
The fast-growing company was formed five years ago and its innovative products are used by the sign, display and graphics markets in the UK and Ireland. Nu-Coat had outgrown the 20,000 sq ft premises it had on Chapel Farm Industrial Estate in Cwmcarn but was keen to stay in the area and has taken a 10 year lease on Unit 4 at Avondale.
Its new factory on Avondale Industrial Estate was acquired last year by PMG, the commercial property developer behind Cardiff City Stadium and Capital retail park. It invested £500,000 in refurbishing the unit, including energy-saving initiatives, new epoxy resin floors, refurbished offices, and a new yard area. The company was advised by property consultancy Knight Frank.
PMG development director Rick Guy said: “We are delighted to have attracted a quality local company so quickly to Unit 4 which we acquired as the first step of a new drive into buoyant or undervalued sectors where we can add value. The letting to Nu-Coat completes the successful delivery of our business plan.”
Chris Martin, managing director of Nu-Coat, said: “We anticipate a lot of growth over coming years – including the creation of many new jobs – and the much larger premises at Avondale give us the capacity to expand our manufacturing capabilities and stock to enable us to grow further in the UK and also overseas.”
Nu-Coat has invested heavily in the latest coating and converting technology, housed within a clean room environment and is spending a further £300,000 to tailor the new building to its requirements.
Chris Martin added: “We are one of the very first manufacturers worldwide to have chosen UV curing technology for self-adhesive signs and graphics materials. This is a speed-curing solvent-free process in which high intensity UV-C light instantly cures the coating, saving time and money and delivering significant environmental benefits, including much lower fuel usage at the factory.”
Neil Francis, head of logistics and industrial at Knight Frank in Cardiff, said: “It is clear that occupiers of buildings of this size are no longer prepared to accept older dated accommodation. PMG reacted to the lack of Grade A space within the market by undertaking a full scope of works to transform the building into a HQ facility.”
Developer PMG has transacted on over £500m worth of commercial property over 60 different projects including student accommodation, industrial, retail and land assembly. Its major projects in south Wales include the 35,000-seat Cardiff City Football Stadium and adjoining 480,000 sq ft Capital Retail Park and Trident Industrial Park. It has also helped to develop Wales’s first 375,000 tonne waste-to-energy incinerator.