Regeneration fund to help renovate Caernarfon town centre buildings
A loan fund established by Gwynedd Council is enabling property owners in the Caernarfon town centre area to renovate their properties.
The £700,000 loan fund was established following a successful Council bid for Welsh Government funding. It has recently assisted Byncws Tŷ Glyndŵr to open a town bunkhouse, café and bar. It has also helped Tŷ Castell Cyf to open a restaurant and boutique hotel. Both businesses are situated on the High Street in Caernarfon.
Financial assistance was provided through the Caernarfon Town Centre Loan Fund to renovate both premises and to facilitate the opening of these new enterprises.
Rhys Davies, proprietor of Byncws Tŷ Glyndŵr said: “We are very pleased to have received support from Gwynedd Council’s Caernarfon Town Centre Regeneration Fund to renovate the High Street premises. In a period where public funding is much reduced, the availability of funding initiatives like this is of great importance to small local businesses.”
Gareth Jones, owner of Tŷ Castell said: “As a local business we are very happy to have received funding to renovate our High Street premises. It’s very important for both locals and visitors alike that Caernarfon Town Centre remains a vibrant and attractive place. I urge property owners within the town centre to make use of the funding that’s on offer.”
Councillor Ioan Thomas, Gwynedd Council Cabinet Member for Economic Development said: “It’s heartening to see how this funding is being used by local property owners to improve the condition of buildings in Caernarfon town centre.
“Over the years the Council has been working closely with its partners in order to regenerate the area, with the available loans providing an excellent opportunity for businesses and residents to renovate their buildings in the town centre.
“As a Council we urge people who believe they are eligible to contact our business support team in order to find out more about the funding.”
The Welsh Government has also approved a funding application by Gwynedd Council towards the setting up of an interest free loan scheme for owners of premises in need of improvement located within Bangor city centre.
The Caernarfon and Bangor Centre Loan Fund is an interest-free loan available to property owners in the centre of Caernarfon and Bangor to complete improvements or to make use of existing vacant premises. The fund is administrated by Gwynedd Council and financed by the Welsh Government.
For more details about the scheme, contact Gwynedd Council on 01286 679231 or visit: www.gwynedd.llyw.cymru/financialassistance
Photograph: Gareth Jones, Councillor Ioan Thomas and Rhys Davies.