Four commercial property projects in North Wales are set to deliver new industrial and employment space with support from the Wales Commercial Property Fund, managed by the Development Bank of Wales.
Developments in Kinmel Bay, Conwy and Bangor have secured almost £7 million from the fund, supporting the delivery of almost 67,000 sq ft of modern commercial space across 32 units.
The projects include new light industrial units at Tir Llwyd Enterprise Park in Kinmel Bay, flexible space at Conwy Morfa Enterprise Park, and two separate schemes at Parc Bryn Cegin in Bangor, one of Gwynedd’s strategic employment sites.
Together, the schemes reflect growing confidence among experienced developers in North Wales and continued demand for high-quality industrial accommodation that can support business growth, supply chains and local employment.
Deputy Fund Manager Claire Sedgwick and Property Development Executive Rob Good supported K&C Group with the funding for Tir Llwyd Enterprise Park while Senior Property Development Executive Anna Bowen delivered the funding for Vectorex in Conwy along with Hillcliff Holdings and Lingar Holdings in Bangor.
Nicola Crocker, Property Fund Manager at the Development Bank of Wales, said:
“Across North Wales, we are seeing strong demand for modern, flexible commercial space and a pipeline of experienced developers ready to bring forward high-quality schemes.
“These four projects show how targeted funding can help unlock commercial developments that might otherwise struggle to proceed, creating the space businesses need to grow while supporting construction supply chains and strengthening local economies.
“From Kinmel Bay and Conwy to Bangor, this investment is helping create practical, high-quality employment space in locations where businesses want to operate.”
K&C Group, Kinmel Bay
At Tir Llwyd Enterprise Park in Kinmel Bay, K&C Group, which comprises Pure Developments and K&C Construction, is developing almost 17,000 sq ft of new light industrial space as part of its continued investment in North Wales.
A £2 million investment comprising a £830,000 loan and £1.12 million grant, will support five light industrial units designed for manufacturing, warehousing and office use.
The Tir Llwyd development also marks another milestone in K&C Group's long-standing partnership with the Development Bank of Wales. Since 2018, the Group has secured funding for residential developments in Llanfair Dyffryn Clwyd and St Asaph, alongside support for an ongoing residential development in Prestatyn. This latest investment is the fifth project backed by the Development Bank.
Carl Roberts, group managing director of K&C Group, said:
“This latest development builds on a long-standing partnership with the Development Bank of Wales that has helped us continue investing across North Wales.
“The support enables us to bring forward high-quality commercial developments that respond to local demand while creating opportunities for local contractors, suppliers and businesses. Tir Llwyd is another important milestone in the continued growth of the Group.”
Vectorex, Conwy
At Conwy Morfa Enterprise Park, Vectorex has secured £1.2 million from the Wales Commercial Property Fund to develop almost 21,000 sq ft of new industrial space.
The scheme will comprise two industrial buildings that can be configured into nine individual units, providing flexible accommodation for a wide range of businesses.
Formed in 2013 by directors Chris Jones and Jonathan Owen, Vectorex has built an excellent reputation as a principal contractor on commercial and residential developments. The Conwy Morfa project represents the company's first direct commercial development.
Chris Jones, Director of Vectorex, said:
“We've spent many years delivering developments on behalf of clients, so bringing forward our own commercial scheme is an exciting next step for the business. The support from the Wales Commercial Property Fund has given us the confidence to make that transition, creating flexible industrial space that will help meet growing demand from businesses across North Wales.”
Hillcliff Holdings, Bangor
In Bangor, Hillcliff Holdings has secured a £2.4 million investment to develop the first phase of a speculative commercial scheme at Parc Bryn Cegin.
The funding, comprising a £1.26 million loan and a £1.14 million grant, will support the construction of almost 19,000 sq ft of industrial space across eight individual units. Hillcliff acquired the site from the Welsh Government at the beginning of 2025 with planning consent already secured for Phase 1.
The wider development has the potential to expand further through future phases, reinforcing Parc Bryn Cegin's importance as a strategic employment site for Gwynedd.
Rob Thorpe, Director of Hillcliff Holdings, said:
“Parc Bryn Cegin is an important employment site with significant long-term potential, and we're pleased to be helping unlock that opportunity.
“The investment allows us to deliver the first phase of what will become a much larger commercial development, creating high-quality space for businesses while supporting investment and employment in Gwynedd.”
Lingar Holdings, Bangor
Also at Parc Bryn Cegin, Lingar Holdings is progressing the first phase of a four-phase commercial development with £1.3 million from the Wales Commercial Property Fund.
Phase 1 will deliver 10,000 sq ft of speculative commercial space across ten individual units. Once complete, the wider scheme is expected to provide around 40,000 sq ft of flexible industrial accommodation.
Gary Poole, owner of Lingar Holdings, said:
“This first phase is the beginning of a much bigger vision for Parc Bryn Cegin. Creating modern, flexible units that suit businesses of different sizes will help support local enterprise today while giving us the platform to expand the development over the coming years.”
The Wales Commercial Property Fund offers loans from £250,000 to £5 million for speculative and non-speculative office and industrial developments in Wales with terms of up to five years. Since 2017, the Development Bank of Wales has invested £34 million in commercial property projects resulting in more than 411,000 sq. ft of space.
