The Market Inn in Llangefni is set to launch its accommodation offer thanks to a £524,000 funding package arranged by business finance specialists Bathgate Business Finance.
The finance was supported by an £8,500 Shared Prosperity Fund grant administered on behalf of the Isle of Anglesey County Council by Menter Môn’s Hwb Menter.
Following an introduction from Richard Fraser-Williams at Business Wales, Bathgate provided a loan from The Bathgate Capital Fund and worked with funders BCRS, Selina, 365 Business, and Reward to secure asset finance and loans to purchase kitchen equipment and furniture and facilitate extensive building works.
Originally built in the early 20th century, in 2023, the venue was purchased by Derek McKeon, who has owned and run neighbouring establishment The Foundry Vaults for more than 21 years. He had a vision to renovate and modernise the venue and add accommodation, while maintaining architectural features such as its mansard roof and gabled dormers, preserving the building’s history as a purpose-built town pub of the interwar years.
Early stages of the project were supported by grants, council funding and Derek’s own investment, but the extensive bar and kitchen fit out and accommodation plans required additional funding.
Derek said:
“I had my eye on the Market Inn as soon as it came up for sale, because I was certain of its potential. Securing additional finance while we were not trading was a real challenge, as the hospitality sector was seen as a bit of a gamble for many funders and banks, and most lenders wanted six to 12 months of trading figures.
“After coming to meet me at the venue, Esther from Bathgate immediately saw the potential for the Market Inn, with its history, the plan for a great food and bar offer and the addition of eight bedrooms, in an area where there is a lack of other accommodation on offer.
“Bathgate used their expertise in alternative finance and extensive network of funders to find solutions and really offered the personal touch. They were extremely hands-on, fully behind the project and at the venue all the time, making sure we got it over the line.”
Market Inn reopened in December 2024 with a state-of-the-art kitchen, serving top-quality food crafted with the finest local produce, while work continued on the development of the eight bedrooms.
The grant provided by the council allowed Derek to finance the final touches to the accommodation.
Esther Rigby from Bathgate Business Finance said:
“Derek has 30 years’ experience in the industry and fantastic local knowledge through his ownership of The Foundry Vaults. There was also a real need for more, high-quality accommodation in the area, so we could see the potential for this to be a successful year-round business.
“He has completely modernised the Market Inn, while maintaining its historic features and charm that have made it a Llangefni landmark for generations. This kind of project is complex, and it takes time to find the right solutions, but we are pleased to have been able to bring funders from our network together, and provide finance from The Bathgate Capital Fund, to create a package that works for Market Inn.
“We’re so excited for the launch of the new accommodation and wish Derek and his team the best for all their ambitious plans – we’re sure it will be a roaring success.”
Richard Fraser-Williams, from Business Wales, added:
“It’s been a pleasure working with Derek to bring the Market Inn back to life, and to develop a much-needed accommodation offer in Llangefni.”
