A Caerphilly-based van specialist has bought their £2.2 million 60,000+ square foot home of 10 years from their landlords.
Vantastec is a van converter based in Ystrad Mynach, Caerphilly. The company has finally put pen to paper to buy the property from their landlords, along with 30,000 square feet of surrounding business properties, for £2.2 million.
Before moving to the premises in 2013, the business operated out of a smaller unit just up the road in Penallta Industrial Estate for several years.
Vantastec was founded in 2006 and operated, for a time, out of Director Gareth Edwards’ spare bedroom.
On the purchase, Managing Directors Gareth Edwards and Colin Smith said:
“It’s been a long time in the making, but we are thrilled to finally get this deal over the line.
Owning our premises opens up a number of opportunities we can’t wait to explore.
“We’ve experienced significant growth since first moving in ten years ago.
“Purchasing the property outright ensures we have the tools to facilitate our plans to grow further – which we can’t wait to announce soon.”
This news comes shortly after the company recently confirmed its employees now owned a majority share in the business.
The new ‘Employee Ownership Trust’ was brought into action with the help of the Development Bank of Wales. It means that all 38 employees collectively own a 51% share in the business.
Mr Edwards and Mr Smith continued:
“Our team has been central to our success so we were keen to ensure that they have the opportunity to share in our future growth.
“Without them, we wouldn’t be where we are today.
“Being the proud owners of our premises protects us from future uncertainty and allows us the freedom to grow the business even further.”
