Adferiad, one of the largest charities in Wales supporting people affected by mental ill health and substance use, has completed the purchase of the former Blind Veterans centre in Llandudno thanks to a £1.5 million deal brokered by Bathgate Business Finance.
The purchase marks a new chapter for Adferiad, which has just celebrated its 50th anniversary at the new site. The building will be transformed into Parkland Place, a 40-bed detoxification facility, providing safe, structured detox for adults with substance use disorders, including individuals with additional complexities.
Bathgate BDM and Head of Property Finance, Gary Beggs, held a number of in-person meetings with the client and its advisers to fully understand both the organisation’s aims and requirements regarding terms and a challenging timescale. This allowed him to advise on the levels of funding that could be achieved prior to potential locations being identified.
Gary supported the team in reviewing and advising on a selection of premises before the former Blind Veterans centre was identified as the ideal property. Working with Adferiad’s CEO, Dr Alun Thomas and its finance team, Gary then prepared all financial information and submitted to a targeted selection of lenders, which included high street banks and specialist funders.
Following introductions to a panel of lenders, Adferiad selected charity finance lender specialist, Charity Bank.
Dr Alun Thomas, Chief Executive of Adferiad, said:
“Securing the right funding for a project of this scale was a significant milestone for Adferiad. As a charity, every investment we make has to deliver long-term value for our beneficiaries, so finding a funding partner that understood both our ambitions and our values was incredibly important.
“Gary and the team at Bathgate Business Finance took the time to understand what we were trying to achieve. Their expertise, guidance and determination throughout what was a complex process helped us secure the funding needed to bring this project to life.
“Parkland Place Llandudno represents a major investment in specialist detoxification services in North Wales. The new facility will provide a safe, therapeutic environment where more people can access clinically supported detoxification, helping them take the first step towards recovery.
“The purchase also preserves the legacy of a building that has served people for well over a century, and where some of the Adferiad's origins began, some 50 years ago. As we celebrate our 50th anniversary, it feels particularly fitting that we are giving this historic site a new purpose, ensuring it continues to provide care, hope and support for generations to come. We are incredibly grateful to Bathgate Business Finance and Charity Bank for helping make this vision a reality.”
Gary said:
“After visiting the property with the Adferiad team, it was clear to me just how special the location was and how it would enable the charity to realise its vision for the facility, and I was determined to get the deal across the line.
“It certainly wasn’t without its challenges, particularly at the legal stage, but I was pleased to be able to step in and use my expertise to support those negotiations on both sides to ensure the purchase was completed.
“This has been an extremely rewarding deal to lead and deliver, not just in terms of the technical delivery of the funding, ensuring the best financial solution for the client, but the fact that the funding will facilitate the creation of a place of healing and safety that will save and change lives.
“Attending the charity’s 50th anniversary event at the site last week was a real pleasure, and it certainly changed my perspective on what facilities for those with substance use disorders and ill mental health look and feel like. We wish the whole team the very best for the launch of Parkland Place and fifty more years of providing safety and recovery to those who need it.”
Development of Parkland Place is now in its final stages. The building, which was originally erected as a convalescent home by Lady Forester in 1904, has a long history of providing care and support in the local community.
