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Expansion Work Progresses at Luxury Lodge Development with Development Bank Support

Gwaith Ehangu yn Mynd Rhagddo mewn Datblygiad Porthdai Moethus gyda Chymorth y Banc Datblygu

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Gymraeg

A major visitor resort at the heart of West Wales has plans for expansion thanks to help from the Development Bank of Wales.

Set in the Ceredigion village of Llanon with sea views across Cardigan Bay and stretching up to the Llyn Peninsula, Seven Springs allows customers to buy or let lodges in an idyllic coastal setting, giving visitors an all-year-round foothold in a stunning part of Wales.

Following the granting of planning approval, the lodge park has started work on developing new land for 38 new luxury lodges. The purchase of the additional land for development of the new lodges was supported by a £200,000 loan from Development Bank of Wales via the Wales Business Fund.

Richard Cross and Steve Clapperton, Seven Springs; Richard Easton, Development Bank of Wales

This is the second time the Development Bank has supported Seven Springs Limited, following an initial investment of £150,000 in 2019 to fund infrastructure works on the existing site.

Director Steve Clapperton said:

“We’re delighted to have started work on the new site, which will mean we can offer luxury lodges in beautiful coastal surroundings to even more visitors.

“We’ve been looking at increasing the space and number of lodges we have available for some time, so the support we’ve had from the Development Bank and obtaining the permissions needed to start the work was a huge relief.

Steve added:

“Working with the Development Bank was ten times easier than working with other banks. I wouldn’t have been able to expand without their support – they did exactly what they’re set up to do.”

Director Richard Cross said,

“We are delighted that the LPA has decided look positively on our planning application, and with the help of the Development Bank of Wales our vision for this landmark expansion will now be realised.

“We and our excellent planning team have spent the past two years putting together a well thought-out planning application for an additional 38 luxury Lodges which will add to the already successful development at Seven Springs. We are all extremely happy with the result.”

Richard Easton, Portfolio Executive at the Development Bank of Wales, said:

“It has been a pleasure to work with Steve and Richard, and the wider team at Seven Springs, and I am delighted that we have been able to support their growth plans through additional funding from our Wales Business Fund.

“It’s pleasing to see another tourism business grow, with plans to bring even more visitors to this beautiful part of Wales.”

The Wales Business Fund provides funding for deals between £50,000 and £5 million, with loans, mezzanine finance and equity investment available and terms ranging from one to seven years.

For more information, please visit www.developmentbank.wales

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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 – 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 Bank’s ‘big picture’ 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 what’s happening in Wales’ villages, towns and cities – 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.

 

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