Owners Karen and Gordon Pritchard have run Bedwas House Private Nursery on Bedwas House Industrial Estate since 2006. Having succeeded in keeping their first 70-place unit full, and with an ever-increasing waiting list, the pair decided to look for suitable premises for a second nursery.
With the guidance of their broker Neil McDonagh, of HCF Commercial Finance, they secured funding from NatWest to buy and convert a new building in the centre of Newport. The bank also provided a working capital facility.
Having spent four months converting the property in Basseleg Road, the business has now launched with five staff. It is anticipated that Monmouth House Private Nursery will run on a complement of up to 30 full and part-time staff once the unit is full to its capacity of 67 children.
Business owner Karen Pritchard said: "Our centre in Bedwas was doing very well and we had a permanent waiting list so we knew the demand was definitely there. It is a specialist market but having run Bedwas House for five years, we knew what we were getting into to. The funding from NatWest - as well as the advice of their specialist sector team - enabled us to turn an ambitious business plan into reality."
NatWest relationship manager Chris Pascoe and business development manager Chris Evans supported the Pritchards with this expansion.
NatWest's Chris Pascoe said: "Both Gordon and Karen have a sound knowledge of the sector which meant they could draw up a very detailed, and realistic, business plan. The new facility at Monmouth House will extend daycare provision in an area where it is much needed and we wish them well."