In 1969 a grant from the Wolfson Foundation of £132,000 was awarded to the University of Wales Institute of Science and Technology (UWIST) to establish a research centre to carry out basic and applied studies on magnetic materials and their industrial applications. Professor Jack E. Thompson was appointed the Director of the Wolfson Centre for the Technology of Soft Magnetic Materials. The original objective was to create a unique UK Centre capable of competing at the international level. This objective remains broadly the same today. A property was purchased in 30 The Parade - a street near the University's buildings.