Senior Loan – £10.15m
Loan to support the completion of a 146-bed hotel. Completion of the hotel will benefit the region through the impact that it will have on the nearby ICC Wales by allowing it to host larger events through the provision of additional hotel bedspace which in turn generates significant indirect spend in the area. In addition to this, the hotel will partner with two local tertiary education institutions from which students of hospitality management courses will receive practical training in the hotel. The Borrower is a part of the Celtic Manor Resort Group.
“This investment is a great example of what the Strategic Premises Fund is intended to do – to provide investment that supports the delivery of CCR’s Regional Economic and Industrial Plan and our ambition to nurture good growth across the Region. In addition, it’s encouraging to see sustainability being built into a Welsh asset of this nature with an EPC rating of A and fossil fuel functions being replaced with a more energy efficient alternative. This investment is an exemplar of how CCR can support business in the Region to contribute to a Net Zero Wales”. Cllr Andrew Morgan, Leader of Rhondda Cynon Taff County Borough Council and Chair of the Strategic Premises Fund.