Showcasing the Best of Welsh Business

DEFAULT GROUP

Denbigh Business Buys Denbighshire Country Home and Estate Thanks to Loan from the Development Bank of Wales

Busnes yn Ninbych yn Prynu Cartref Gwledig ac Ystad yn Sir Ddinbych Diolch i Fenthyciad Gan Fanc Datblygu Cymru

SHARE
,

Gymraeg

Dev Bank-newsfeed-banner-advert-945px-x-210px_Tourism

The Denbighshire-based Godfrey Group has started work on redeveloping a former asylum and estate near Ruthin, with long-term plans to redevelop the site for leisure and hospitality purposes.

The business purchased the site supported by a substantial six figure loan from the Development Bank of Wales, from the Wales Flexible Investment Fund.

Pool Park is a former asylum at Efenechtyd, with buildings and grounds dating back to the early 1800s. The circa-30 acre plot was the site of a substantial hall and farm which became dilapidated but a manor house dating back to 1824, along with a coaching house, neighbouring boiler block and lodge house. remain on site. The house was sold in the 1930s, and was briefly used as prisoner of war camp during the Second World War.

Godfrey Group provides facility services to a number of companies in the leisure, housing and education sectors, with clients including Adra, Grwp Cynefin, Center Parcs, Darwin Escapes and local authorities. They are also a strategic partner for Hoseasons.

The business currently operates out of an office on Denbigh Industrial Estate, and will move to Pool Park as part of the renovation plans, which will also see them redevelop the wider site for holiday lets over the next five years.

Andy Godfrey, MD of Godfrey Group, said:

ā€œWeā€™re really pleased that the Development Bank of Wales has been able to see our vision for this site. The loan provided allowed us to buy Pool Park and then hit the ground running with our plans for redevelopment.ā€

ā€œItā€™s a beautiful house and grounds in a beautiful part of the world, and while the potential is there for redevelopment, we want to do everything we can to respect and preserve the features that are already here. A lot of the site has fantastic examples of Georgian workmanship and that deserves to be kept for future generations.

ā€œWeā€™ve already had a lot of interest locally from people who know the site well or used to work there. That response has been great to see, and itā€™s encouraging to hear from so many people who can see the love we have for Pool Park and are confident in our plans for the old estate.ā€

Will Jones, Investment Executive at the Development Bank of Wales, said:

ā€œAndy and the team at Godfrey Group are clearly enthusiastic about what theyā€™ve got planned for Pool Park, and it was a pleasure to support them in bringing their vision for the estate to fruition. The initial move to a new office, once completed, will allow them to expand the existing business, and Pool Park has great potential for leisure and accommodation expansion.

ā€œWe look forward to watching the work at Pool Park as it develops, and wish Andy and everyone at  Godfrey Group the best of luck with their plans for the future.ā€

The Ā£500m Wales Flexible Investment Fund (WFIF) offers investment for deals between Ā£25,000 and Ā£10 million, with a mixture of loans, mezzanine finance and equity investments available.

For more information, visit www.developmentbank.wales

Picture – Andy Godfrey, MD of Godfrey Group; Will Jones, Investment Executive at the Development Bank of Wales

SHARE

The Development Bank of Wales funds businesses that they think will benefit Wales and its people. The ones that will create ripples of growth- those that are more than a good business model or a great idea. They finance responsible businesses ā€“ those with a strong social, ethical and environmental standards, as well as real commercial promise.

By providing sustainable, effective finance where options have seemed limited, they bring ambitions to life and fuel possibilities for people, businesses and communities in Wales and beyond.

The Development Bankā€™s ā€˜big pictureā€™ view means it can often help with debt and equity finance when options seem limited, doing whatever it takes to make a positive difference, bringing together the right people and working collaboratively to find a way to make things happen for Welsh businesses and for Wales.

Its teams are embedded in local communities, working out of regional offices that give customers direct access to key decision-makers and signposted avenues of support. They understand whatā€™s happening in Walesā€™ villages, towns and cities ā€“ the challenges and the opportunities. They see the potential for business growth as a catalyst for enhancing lives and communities in Wales and beyond.

For more information, visit the Development Bank website at www.developmentbank.wales to find out more.

 

Related Articles

Business News Wales