A major visitor resort at the heart of West Wales has plans for expansion thanks to help from the Development Bank of Wales.
Set in the Ceredigion village of Llanon with sea views across Cardigan Bay and stretching up to the Llyn Peninsula, Seven Springs allows customers to buy or let lodges in an idyllic coastal setting, giving visitors an all-year-round foothold in a stunning part of Wales.
Following the granting of planning approval, the lodge park has started work on developing new land for 38 new luxury lodges. The purchase of the additional land for development of the new lodges was supported by a £200,000 loan from Development Bank of Wales via the Wales Business Fund.
This is the second time the Development Bank has supported Seven Springs Limited, following an initial investment of £150,000 in 2019 to fund infrastructure works on the existing site.
Director Steve Clapperton said: “We’re delighted to have started work on the new site, which will mean we can offer luxury lodges in beautiful coastal surroundings to even more visitors.
“We’ve been looking at increasing the space and number of lodges we have available for some time, so the support we’ve had from the Development Bank and obtaining the permissions needed to start the work was a huge relief.
Steve added: “Working with the Development Bank was ten times easier than working with other banks. I wouldn’t have been able to expand without their support – they did exactly what they’re set up to do.”
Director Richard Cross said “We are delighted that the LPA has decided look positively on our planning application, and with the help of the Development Bank of Wales our vision for this landmark expansion will now be realised.
“We and our excellent planning team have spent the past two years putting together a well thought-out planning application for an additional 38 luxury Lodges which will add to the already successful development at Seven Springs. We are all extremely happy with the result.”
Richard Easton, Portfolio Executive at the Development Bank of Wales, said: “It has been a pleasure to work with Steve and Richard, and the wider team at Seven Springs, and I am delighted that we have been able to support their growth plans through additional funding from our Wales Business Fund.
“It’s pleasing to see another tourism business grow, with plans to bring even more visitors to this beautiful part of Wales.”
The Wales Business Fund provides funding for deals between £50,000 and £5 million, with loans, mezzanine finance and equity investment available and terms ranging from one to seven years.
