A major regeneration project which is transforming a historic estate in the heart of Carmarthen into a thriving economic and community hub has been boosted by a £750,000 loan from the Wales Flexible Investment Fund, managed by the Development Bank of Wales.
Parc Dewi Sant, led by a team with a strong track record of delivering similar schemes, has spent the last two years bringing new life into the 38-acre estate, which was once a former mental health hospital. The company’s long-term vision is to maximise the potential of the iconic site, which has 22 buildings, by creating high quality commercial accommodation while supporting community-oriented services.
The latest investment will support Phase 2 of a redevelopment programme, which is repairing and upgrading buildings, some of which are listed, unlocking space for more tenants to move onto the estate. Although classed as a development project, much of Phase 2 is already underway and a significant proportion of the work has been completed on time and on budget, reducing delivery risk and providing confidence in the overall programme.
Since acquiring the site, Parc Dewi Sant has attracted 60 new tenants, bringing the total number of occupiers now based on the estate to 80.
Tenants include Swansea University, Hywel Dda University Health Board, Carmarthenshire County Council, Dyfed Powys Police, Space to Breathe, Meithrinfa Lilliwenfach Nursery, CFK Gym, Meddygfa Parc, Dewi Sant Dental, Hwbod+ Gym and The Independent General Practice. The mix of tenants has created a mix of public and private organisations and helped establish the site as a growing centre for community services and employment.
The project is led by majority shareholder and director Mark Andrews, a highly experienced developer specialising in the conversion of listed buildings responsible for a number of iconic developments across Wales. Parc Dewi Sant is a family business; Mark works alongside his daughters Izzy and Polly Andrews, who are both instrumental to the delivery of this project.
The site is fully managed by Savills and has been designed to support both social and economic value. Lucy Cummings, Social Enterprise and New Business Leader for Parc Dewi Sant, has been a catalyst in bringing community-led organisations to the estate. There are now 14 charitable/community interest organisations with a permanent presence, delivering vital services to the community and many more using The Carmarthenshire Living Well Centre hot desks and activity space. Some 700 people use the site to access free community services each month. Parc Dewi Sant has also dedicated an area of the grounds to the community.
The estate also benefits from strong environmental credentials, including 500 solar panels, upgraded LED lighting and new EV charging points will soon be installed, reflecting an ongoing commitment to sustainability as the wider regeneration continues.
Mark Andrews, director at Parc Dewi Sant, said:
“This is an iconic estate with enormous potential and we’re proud of the progress we’ve made over the last two years to turn it into somewhere that works for Carmarthen and the wider community. Bringing new tenants onto the site is vital for long-term sustainability, but so is creating a genuine hub for services that improve people’s lives. The support from the Development Bank of Wales has enabled us to keep momentum behind Phase 2, working with local contractors we trust and building on what we’ve already delivered on time and on budget. The process has been clear, constructive and straightforward, and it’s helped us move quickly from plan to delivery.”
Clare Sullivan, regional manager and Sally Phillips, investment executive led the deal for the Development Bank of Wales.
Sally said:
“Parc Dewi Sant is a strong example of regeneration done with purpose. Mark Andrews and the wider team bring a proven track record in complex redevelopment, and the progress already made on site gives confidence in the delivery of Phase 2. The estate has quickly become home to a growing mix of tenants and vital services, while also providing meaningful support to the third sector and the wider community. Our investment from the Wales Flexible Investment Fund will help build on that momentum and support the site’s continued economic and social impact in Carmarthen.”
Looking ahead, Parc Dewi Sant is exploring further opportunities to maximise the estate’s long-term potential, including discussions around additional community-focused facilities and new service provision, which would be progressed in line with demand and the phased development approach.
The £500 million Wales Flexible Investment Fund supports Welsh businesses with terms of up to 15 years. Loans, mezzanine finance, and equity investments are available from £25,000 to £10 million.
