Two Anglesey properties have undergone major renovations after the Development Bank of Wales confirmed a £1.25 million investment – via the Wales Flexible Investment Fund – to support The Neighbourhood Group’s latest regeneration projects.
NH Bull Bay Ltd has secured £350,000 to acquire and renovate The Anchorage in Bull Bay, transforming the existing holiday accommodation into a single high‑quality eight‑bedroom holiday let. A further £900,000 has been provided to NH Rhosneigr Ltd for the acquisition and redevelopment of a property in Llanfaelog, which will become a high-end 11‑bedroom destination holiday home.
Both NH Rhosneigr and NH Bull Bay are part of The Neighbourhood Group’s portfolio of renovated properties.
Formed in 2021, The Neighbourhood Group specialises in acquiring and renovating underperforming, redundant, or disused buildings, turning them into high‑quality short‑term holiday accommodation.
With an ethos of working ethically and sustainably in the market, the business focuses on bringing derelict or failing properties back into use, retaining, maintaining and operating all assets long-term. Renovation spend and ongoing employment stay within the communities in which they operate, with the business using local suppliers, subcontractors and trades wherever possible.
The Bull Bay and Rhosneigr projects build on the Group’s successful track record, including two completed holiday‑let refurbishments of similar scale in north Wales. The new 11‑bed property at Rhosneigr alone is expected to attract over 700 visitors each year, supporting local shops, restaurants, and visitor attractions.
Paul Mather, Director at The Neighbourhood Group, said:
“The support we’ve had from the Development Bank has been instrumental in delivering renovation projects across north Wales and enabling us to grow into the business we are today.
“Through our investments in local regeneration developments, we are thrilled to play a role in revitalising communities and enhancing local economies. We look forward to continuing this vital work and making a lasting and positive impact in the areas that we operate. Our mission is to restore these buildings to their original glory while securing their place in the hearts of the communities for future generations to enjoy.”
Claire Grimshaw, Portfolio Executive at the Development Bank of Wales, said:
“The Neighbourhood Group has a clear track record of taking underperforming and often redundant buildings and turning them into high‑quality assets that contribute to the local economy.
“Our investments in Bull Bay and Rhosneigr have brought these properties back into productive use, supporting year‑round employment and helping drive visitor spend across Anglesey. We’re pleased to be supporting the continued growth of the business as it expands its portfolio across north Wales.”
For more information on the loan and investment support offered by the Development Bank of Wales, visit developmentbank.wales.
