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 Ƶ 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 Ƶ 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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