Developer Gets Funding to Expand Cardiff Business Park
Cardiff developer, Nigel Roberts has been granted funding from Principality Commercial to further expand Paramount Business Park in St Mellons. The development is designed to support the business expansion of existing tenants following a period of sustained growth. Work has begun to develop Summers House, a £2.65m commercial office space covering 14,000 square feet and is scheduled to be completed in August. The new detached office will be let to tenants Quantum Advisory and Paramount Office Interiors.
Paul Williams, lending manager at Principality Commercial said the mutual was glad to be able to back the development project. “Business space for small and medium-sized companies is still in demand as many organisations continue to grow, creating more jobs despite the difficult climate,” he said. “Unfortunately, whilst these companies need choice and flexibility, financing has become scarcer as many commercial lenders have withdrawn from the market.
“As an indigenous Welsh business, we are proud to be able to provide a funding solution to support this pre-let development, helping businesses to expand and continue to make a healthy contribution to the welsh economy.”
Nigel Roberts, managing director of Paramount Office Interiors, said: “Commercial funding has been difficult to access, even for pre-let developments. “Principality have been a breath of fresh air to deal with, and we are all looking forward to moving to our new home in early September this year.”