Work begins on new industrial units after £4.67m funding deal

Work is under way on 17 light industrial units after a developer secured a £4.67 million funding package from the Development Bank of Wales.

Tŷ Rhosyn Homes will deliver 23,600 square feet of employment space across three terraces at Parc Eirin in Tonyrefail, supported by a £2.51 million loan through the Wales Commercial Property Fund and £2.16 million in grant funding.

The development at Plot 2B will be built in two phases. The first will provide five units of approximately 1,600 square feet each, followed by 12 units of around 1,300 square feet. The wider site has planning permission for 34 units.

Each unit will have dedicated parking, with additional communal spaces, cycle shelters, landscaping and sustainable drainage infrastructure included in the scheme.

The buildings have been designed to allow neighbouring units to be combined and mezzanine floors added where required.

Tŷ Rhosyn Homes is owned and managed by directors Martyn Christopher and Helen Christopher, who previously delivered Stone House Business Park in Llandow with Development Bank support.

Martyn Christopher said: “Parc Eirin is an opportunity to create modern, flexible industrial units that will help businesses start, grow and expand in Tonyrefail and the surrounding area.

“The funding package has enabled us to move forward with the first two phases and provide premises that can adapt to occupiers’ needs.

“Our experience in construction and civil engineering will enable us to manage the project directly and maintain a strong focus on quality, value and practical delivery.”

James Brennan, of the Development Bank of Wales, said the combination of a loan and grant support had made the scheme financially viable.

“This project will deliver 17 new light industrial units at Parc Eirin, creating flexible space that can accommodate businesses with different requirements,” he said.

“By combining a commercial property development loan with targeted grant support, we have been able to address the viability gap and unlock a project that would not otherwise go ahead.”

The Wales Commercial Property Fund offers loans of between £250,000 and £5 million for office and industrial developments in Wales, with terms of up to five years.

Since 2017, the Development Bank has invested £34 million in commercial property projects, supporting the delivery of more than 411,000 square feet of space.