- Type of finance
- Business need
“The funding has made a huge difference to us; giving us the comfort and certainty to continue with the development this year at a time when the property and construction sectors have been so heavily impacted by Covid-19. What’s more, the speed of turnaround was hugely helpful meaning that we could proceed with work on site without delay.”
Propco Developments Ltd completed the second phase of Waterside Business Park with all eight units on the Lamby Way site in Rumney, Cardiff now fully let or sold.
Part-funded by a six-figure loan from the Development Bank, phase two is a £1.5 million site that includes eight industrial units.
Six have been sold to occupiers that include Richard Kemble Ceilings, Puma Floors and Absolute Performance with two units having been let on ten year leases.
Propco first developed phase one of Waterside Business Park in 2007 which consists of 18 similar sized flexible use units. For this second phase BECT Building Contractors were engaged to build out the one acre site. The total development now features 26 units ranging from 1,200 to 3,500 square feet.
Offering excellent road links, the high specification units include separate pedestrian and roller shutter door access. Cushman and Wakefield and Jenkins Best were engaged as joint agents for the site.