Four commercial property developments in North Wales have secured almost £7 million from the Wales Commercial Property Fund, supporting the creation of nearly 67,000 sq ft of modern employment space.
The projects in Kinmel Bay, Conwy and Bangor will deliver 32 new industrial and commercial units designed to support business growth, local employment and regional supply chains.
The fund is managed by the Development Bank of Wales and provides finance for speculative and non-speculative office and industrial developments.
The four schemes include new light industrial units at Tir Llwyd Enterprise Park in Kinmel Bay, flexible business accommodation at Conwy Morfa Enterprise Park and two separate developments at Parc Bryn Cegin in Bangor, one of Gwynedd’s strategic employment sites.
Together, the investments reflect continued demand for high-quality industrial space and growing confidence among experienced commercial developers operating in North Wales.
Deputy Fund Manager Claire Sedgwick and Property Development Executive Rob Good supported K&C Group with the funding for Tir Llwyd Enterprise Park.
Senior Property Development Executive Anna Bowen delivered the funding for Vectorex in Conwy, as well as 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
K&C Group is developing almost 17,000 sq ft of new light industrial accommodation at Tir Llwyd Enterprise Park in Kinmel Bay as part of its continued investment across North Wales.
The group comprises Pure Developments and K&C Construction.
A £2 million investment, consisting of an £830,000 loan and a £1.12 million grant, will support the delivery of five light industrial units designed for manufacturing, warehousing and office use.
The scheme represents the latest stage in K&C Group’s long-standing relationship with the Development Bank of Wales.
Since 2018, the group has secured finance for residential developments in Llanfair Dyffryn Clwyd and St Asaph, alongside support for an ongoing residential scheme in Prestatyn.
Tir Llwyd is the fifth K&C Group project to receive backing from 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
Vectorex has secured £1.2 million from the Wales Commercial Property Fund to develop almost 21,000 sq ft of industrial accommodation at Conwy Morfa Enterprise Park.
The scheme will comprise two industrial buildings that can be configured as nine individual units, creating flexible space suitable for a wide range of businesses.
Vectorex was formed in 2013 by directors Chris Jones and Jonathan Owen and has established a reputation as a principal contractor working on commercial and residential developments.
The Conwy Morfa scheme will be 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
Hillcliff Holdings has secured a £2.4 million investment to deliver the first phase of a speculative commercial development at Parc Bryn Cegin in Bangor.
The package comprises a £1.26 million loan and a £1.14 million grant.
It 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 development could be expanded through future phases, further strengthening the role of Parc Bryn Cegin 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
Lingar Holdings is also progressing a development at Parc Bryn Cegin after securing £1.3 million from the Wales Commercial Property Fund.
The company is delivering the first stage of a planned four-phase commercial scheme.
Phase 1 will create 10,000 sq ft of speculative commercial accommodation across ten individual units.
Once all four phases are complete, the wider development is expected to provide around 40,000 sq ft of flexible industrial space.
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 provides loans ranging 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 the creation of more than 411,000 sq ft of space.
