Three key buildings in Cardiff city centre have secured £2.35m in interest free loans from the Welsh Government Transforming Towns Loans programme, via Cardiff Council to help with repurposing and regeneration plans.
In line with the authority’s Recovery Strategy for the city centre the council has used its Loan funding to support the following ventures:
- Number 30-31 Windsor Place. The conversion of this Listed building into offices and incubation spaces for leading technology and fintech businesses.
- Imperial Gate, lower St Mary Street. The conversion of this former nightclub into a new golf-themed leisure attraction.
- Asador 44 building in Quay Street to repurpose the vacant upper floors into a boutique hotel.
The Loan funding was awarded to the Council by Welsh Government and the fund has been successful in the past regenerating buildings such as the Tramshed in Grangetown, and the Butetown Railway Station into key business spaces.
The Deputy Minister for Climate Change Lee Waters said: “The Welsh Government are investing significant amounts to give this boost to Cardiff not only to restore buildings, but to restore confidence in the city centre after a difficult period.”
Cllr Russell Goodway, Cabinet Member for Investment & Development said: “The COVID pandemic has impacted the city centre where we have seen a significant fall in business activity leading to a rise in vacant space within the property stock in the centre of Cardiff. So I am delighted to be able to focus Council resource in repurposing these buildings, supporting businesses bringing new sustainable uses into the city centre. This will help the city centre recovery post-pandemic, create jobs, and contribute to the footfall recovery. The Council’s Loans programme supported by the Welsh Government, has already demonstrated its effectiveness in supporting business regenerate vulnerable buildings across Cardiff. The Tramshed and the Butetown Railway Station are shining examples of what can be achieved. I look forward to seeing these new businesses, which have secured funding, thrive in the same way.”