Showcasing the Best of Welsh Business

£10m in Loans to be Spent to Bring Derelict Welsh Buildings Back to Life


In a mission to breathe new life into Wales, a £10m cash pot will be spent on 12 areas of the country, rejuvenating derelict and vacant town centre buildings in the near future. Wanting to make use of the city space, the majority of these buildings will be turned into business premises or homes, with some of Wales’ most iconic buildings to be given a new lease of life.

Part of the £10m will be spent on:

Cardiff Bay’s former Bute Road railway station, all set to become “live-work units” and retail space where a military museum is also earmarked.

Further West, we have Milford Haven’s old Victoria Filling Station and Grade II-listed Quay Stores, expected to be revamped into a cultural centre.


Other areas of focus include:

  • Renovating the Old College Building in Aberystwyth to be utilised for exhibitions, a gallery and performance area.
  • National narrow gauge railway museum, also in Aberystwyth.
  • Redeveloping Olympia House, the former Passport Office, in Newport city centre into residential and commercial units.
  • Providing funding and loans to the private sector to bring vacant buildings back into commercial and residential use in Brecon, Llandrindod Wells and Newtown.

As the third and final phase of the Vibrant and Town Centre Loans Fund, Communities Secretary, Carl Sargeant, considered what might replace some of these Welsh buildings under the spotlight.

Mr Sargeant said:

“This funding will help local authorities regenerate their town centres by helping them find sustainable uses for empty sites and premises such as affordable town centre homes or tourist and leisure attractions.

“As well as making town centres more attractive places to live this loan scheme will help encourage investment into these areas as well as support the local economy.”