£7m boost for new industrial and employment spaces

Mark Mansfield

Four commercial property developments in north Wales are set to create almost 67,000 sq ft of new industrial and employment space after securing nearly £7m in funding.

Projects in Kinmel Bay, Conwy and Bangor have received backing from the Wales Commercial Property Fund, which is managed by the Development Bank of Wales.

The developments will provide 32 units, including new light industrial space at Tir Llwyd Enterprise Park in Kinmel Bay, flexible industrial accommodation at Conwy Morfa Enterprise Park and two separate schemes at Parc Bryn Cegin in Bangor.

The largest individual investment is £2.4m for Hillcliff Holdings to develop the first phase of a commercial scheme at Parc Bryn Cegin.

The funding, made up of a £1.26m loan and £1.14m grant, will support the construction of almost 19,000 sq ft of industrial space across eight units.

Hillcliff acquired the site from the Welsh Government at the beginning of 2025 with planning permission already in place for the first phase, while further phases could follow.

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.”

At the same site, Lingar Holdings has secured £1.3m for the first phase of a planned four-phase development.

The initial phase will provide 10,000 sq ft of commercial space across 10 units, with the completed development expected to eventually offer around 40,000 sq ft.

Owner Gary Poole 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.”

In Kinmel Bay, K&C Group has secured a £2m investment to build almost 17,000 sq ft of light industrial space at Tir Llwyd Enterprise Park.

The package comprises an £830,000 loan and £1.12m grant and will support five units intended for manufacturing, warehousing and office use.

Group managing director Carl Roberts 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.”

Conwy

Vectorex has meanwhile secured £1.2m to develop almost 21,000 sq ft at Conwy Morfa Enterprise Park.

Two industrial buildings will be constructed which can be divided into nine individual units.

The project will be Vectorex’s first direct commercial development after the company previously worked as a principal contractor on commercial and residential schemes.

Director Chris Jones 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.”

Strong demand

Development Bank of Wales property fund manager Nicola Crocker 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.”

The Wales Commercial Property Fund provides loans of between £250,000 and £5m for office and industrial developments.

Since 2017, the Development Bank of Wales says it has invested £34m in commercial property projects which have resulted in more than 411,000 sq ft of space.

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