Self-adhesive material manufacturer Nu-Coat has more than doubled in size with a move to a new 51,000 sq ft industrial unit at Avondale Industrial Estate in Cwmbran in a investment supporting its growth plans.
Its 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 remain in the region. It has taken a 10 year lease on unit 4 at Avondale.
Its new factory was acquired last year by PMG, the commercial property developer behind Cardiff City Stadium and the adjoining Capital Retail Park. It has invested £500,000 in refurbishing the unit, including energy-saving initiatives, new epoxy resin floors, refurbished offices, and a new yard area. PMG was advised on the letting to Nu-Coat by property consultancy Knight Frank.
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, which was set up five years ago, 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.
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.”
Neil Francis, head of logistics and industrial at Knight Frank in Cardiff, which acted for PMG, on the deal, 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.”
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.
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