Cardiff Capital Region’s (CCR) Strategic Premises Fund has invested £5.5m in a factory in Tredegar, Blaenau Gwent. CCR’s Strategic Premises Fund has provided a debt-loan to NPH Red Oak Platform, a new Joint Venture that is acquiring the site. The loan, which once paid back will be reinvested within the Region, is being used for site acquisition of the 168,244 sq ft premises in Crown Business Park, and for refurbishment.
The refurbishment will improve the environmental performance of the premises and will introduce on-site renewables in the form of rooftop solar panels and a 250KW wind turbine. The new owner of the site is also contributing funds alongside CCR’s investment.
All investments from CCR’s Strategic Premises Fund, which is managed by CBRE Lending, are taken through a rigorous two-stage approval process. Previous commercial endeavours supported by CCR’s Fund include Pulse Plastics in Ebbw Vale, Great Point Seren Studios in Cardiff and Tŷ Hotels in Newport.
Andrew Antoniades, Head of Lending, CBRE shared:
“CBRE Lending has its roots in impact fund lending, and so is particularly proud of the benefit to the region that is being achieved with this investment by the Cardiff Capital Region Strategic Premises Fund. The transaction demonstrates the value of strategic lending in job preservation, skills development and driving sustainable improvements – a core principle of CBRE Lending’s approach.”
Cllr Andrew Morgan, Leader of Rhondda Cynon Taf County Borough Council and Portfolio Lead for the Strategic Premises Fund, said:
I am hugely encouraged that this Blaenau Gwent-based site is a recipient of our Strategic Premises Fund. A core commitment and priority of CCR is our drive for sustainable growth, job creation and talent retention within the region, and this investment delivers on all of these objectives.”
Cllr Stephen Thomas, Leader of Blaenau Gwent County Borough Council, further added:
“We’re delighted to see how investments like this bring real long-term economic benefits to Blaenau Gwent through job retention and apprenticeship opportunities which offer residents the chance to forge career pathways in unique and innovative businesses.”
