The Development Bank of Wales has backed investment by leading Welsh events brand Depot into a major Cardiff Bay site, converting the former Doctor Who Museum off Roath Lock into a new food court and leisure space.
The Development Bank invested a six-figure investment from the Wales Flexible Investment Fund into the renovation and refit of the site, with Depot also making a major investment into the site’s redevelopment.
The new Tiger Yard contains 25 purpose-built containers hosting bars and kitchens, along with space for a total of 1,000 visitors – including three covered dining areas.
The new site will compliment Depot’s existing premises on Curran Embankment, a warehouse-based flexible events space which hosts pop-up food and drink venues.
As well as hosting events at their fixed sites, Depot also run popular Bingo Lingo and other corporate events for major partners throughout Wales.
Nicholas Saunders, Director at Depot said: “We’re delighted to have worked with the Development Bank of Wales in opening and launching the new site. We’ve had some real successes with our site on Curran Embankment and been able to host events for some really exciting clients, and we look forward to being able to do something a little different at Tiger Yard.
“Getting this investment from the Development Bank meant we could start work on refurbishing quickly, which in turn meant we could get everything set-up for space-holders as soon as possible.”
Kelly Jones, Portfolio Executive with the Development Bank of Wales, said: “We’re so glad to have supported Depot with this. They’re a really strong player in the events scene in Cardiff and they have a fantastic profile as a business. We’re proud to have backed them on their growth journey and look forward to seeing what they do next.”
The Wales Flexible Investment Fund offers investment for deals between £25,000 and £10 million, with loans, mezzanine finance and equity investment available.
