Monmouth School has recently completed the construction of a large new building at its site on Almshouse Street, Monmouth.

The school’s management team worked with Lloyds Bank to agree a loan of £1.5m to support the project.

The loan, representing approximately 20 per cent of the cost of the project, complemented funds released by the school’s trustees as part of their on-going investment to improve facilities at the Haberdashers’ Monmouth Schools.

With more than 700 boys on roll and celebrating its milestone 400th anniversary in 2014, Monmouth School has significantly expanded its premises with the construction of a state-of-the-art teaching and administration block in the heart of the school grounds. Its completion represents the school’s most ambitious building project in well over a century.

The large-scale build, covering 2,625 sq m, was completed in December, almost two years after work began, and will enable the school to offer up to 19 new classrooms, flexible lecture theatre space and a centralised administration area. The new building was designed to complement the school’s existing heritage buildings, which date back to 1864 and were completed to celebrate the school’s 250th anniversary.

David Chowns, bursar of Monmouth School, which caters for boys aged seven to 18, boarding and day, said: “We are always looking to improve the services and facilities we offer our pupils. Monmouth School prides itself on delivering the highest standards in teaching and pastoral care, and major upgrade projects such as the new William Jones Building, named after our benefactor, will further enhance the overall pupil experience.

“The relationship between Lloyds Bank and Monmouth School dates back more than 100 years and we have worked closely with specialist teams from the bank on a wide variety of projects. We trust in their expertise and their knowledge of our business to advise the best products and services to meet our needs.”

Richard Hoare, relationship director at Lloyds Bank Commercial said: “It is wonderful to see such a long-established, successful business thriving and developing its services for the next generation.

"We have a long-standing relationship with David and his team and were very pleased when we could offer a long-term loan to support this new development project. Lloyds in Wales is committed to providing funding for Welsh businesses to help them achieve their goals. I’m genuinely thrilled that we could support Monmouth School with this build and we are looking forward to working together again in the future.”