A local commercial property developer has transformed a disused office building into a state-of-the-art pharmaceutical lab with the support of a £1.3million development loan from Lloyds Bank.
Neil Humphries, owner of Bron Yr Aur Properties, has refurbished the 30,000 square foot site in the centre of Cwmbran, which had been empty for almost 10 years, to create a new research lab for a global pharmaceutical company.
The site has been designed, developed and delivered by the specialist Laboratory Refurbishment firm – Catalyst (part of The Imium Group) to meet the new tenant’s bespoke specifications. It includes technical laboratory and office space, advanced mechanical ventilation systems and laboratory furniture, as well as new cladding, roof and windows.
Construction began on the site over two years ago and has been delayed by the coronavirus pandemic. More than 100 people have been involved in the project all under Catalyst as Principal Contractor and when finished the total expenditure on the project will be c£3.5m.
Bron Yr Aur specialises in purchasing and renovating run-down commercial space to be sold or rented out to landlords and tenants.
Neil Humphries, owner of Bron Yr Aur Properties, said: “The building was in a state of disrepair when it was purchased, and it took real imagination and hard work to make our vision a reality. Collaboration has been key and we’ve worked closely with the incoming tenant to ensure it meets all their needs. We’re all immensely proud of the incredible transformation.
“This is by far the largest project I’ve ever undertaken and it was only possible with the guidance and support of the Lloyds Bank team. I have more exciting projects in the pipeline and I’m looking forward to having them by my side as these progress.”
Gareth Williams, real estate specialist relationship director at Lloyds Bank, said: “Neil has a burgeoning reputation and his latest project is another excellent example of his entrepreneurship. The creation of a new pharmaceutical lab in Cwmbran represents another important milestone in Wales’ ever-growing presence in global life sciences, which is a fantastic investment for the area and has created a number of jobs locally.
“We’ll continue to work with Neil and other ambitious businesses across the region to help boost the local economy as part of our ongoing commitment to helping Britain prosper.”