FABCO Holdings is approaching completion of 18 units in four self-contained terraces at Felindre Court, part of Pencoed Technology Park near Bridgend. Built on a speculative basis, the units measuring 1,335 sq.ft each have been pre-sold with plans for a second phase under consideration.
Funded by the Development Bank of Wales, the units have an energy efficiency rating of A and also feature electric vehicle charging points with good access to Bridgend, Swansea and Cardiff beyond. All have their own separate door and roller shutter access, with the option to include a mezzanine which makes them attractive for businesses seeking their own premises.
Director Ashley Boon said: “The Development Bank provides short-term flexible loans for small and medium sized developers like us who are looking to develop speculative commercial units. It’s a straightforward process that has allowed us to get on with building the project. What’s more, as a result of the success of this development at Felindre Court we are now looking at the possibility of a second phase of a further 14 units.”
Carl Fitz-Gerald, Senior Property Development Executive with the Development Bank of Wales said: “FABCO’s commitment to quality, innovation and energy efficient developments has made Felindre Court an attractive proposition. Situated just a stone’s throw from the M4 at junction 35, the development brings much needed good quality modern light industrial premises to the market, where there is a well-documented lack of supply. This first phase of units have been highly sought-after and we look forward to the possibility of continuing our relationship with FABCO on a further phase.”
The funding for FABCO Holdings came from the Wales Commercial Property Fund. Loans from £250,000 to £5 million are available for speculative and non-speculative office and industrial developments in Wales with terms of up to five years.
