Welsh local authorities receive funding to revitalise town centres

Five local authorities in Wales are to receive funding from the Transforming Towns Loans (TTLs) programme to revitalise town and city centres.

The programme supports local authorities with town and city centre regeneration projects and has allocated more than £73 million since its launch in 2014.

Caerphilly, Cardiff, Swansea, Gwynedd and Wrexham local authorities will use the moment from this round to revitalise town and city centres and give vacant buildings a new lease of life.

Minister for climate change, Julie James, said: "Our Transforming Towns Loans programme allows councils to support projects that revitalise town and city centres to help create a sense of place and vibrant high streets for their communities.

"With the ambition of making communities sustainable over the long term, the programme aims to improve the quality of life, job opportunities and economic growth for the people who live and work in and around those towns.

"I am looking forward to seeing how councils provide loans to support regeneration projects and bring life back to high streets and disused and forgotten buildings at the heart of their town centres."

Caerphilly County Borough Council has requested £1 million to restore 12 mixed use premises in Caerphilly, Blackwood, and Bargoed town centres. The loan will be used to help property owners access the finance they need to invest and grow during challenging times and will reduce the number of vacant, underutilised and redundant sites and premises.

Cardiff Council requested over £2.9 million to fund three regeneration projects in its city and district centres. This includes the acquisition and redevelopment of Park House on Park Place, a vacant Grade I listed building of national importance.

The building had been empty for over a year and through the Transforming Towns programme it will be refurbished into a 5* wedding and events venue.

Leader of the Council, Cllr Huw Thomas, said: "This is an important scheme which allows us to help preserve and protect important buildings of historical interest in the city centre, bringing them back to life. Park House is a stunning building, designed by William Burges, so it’s great news to know that it will benefit from this fund.

"Since the pandemic ended inflation has risen significantly. This has resulted in development costs increasing significantly making the renovation of historic and listed buildings especially challenging.

"The council’s loans programme, supported by the Welsh Government, allows for these buildings to be repurposed, creating new jobs which benefits the local economy while preserving important buildings for the future.

"The programme has already resulted in the transformation of the Tramshed in Grangetown; Butetown Railway Station; 30-31 Windsor Place; Imperial Gate on lower St Mary Street; and helped with the works on Parador 44 Hotel in Quay Street. I am delighted to hear that the council has received just under £3 million in the latest round of bids, some of which will be used to transform Park House by the Civic Centre, the Custom House on Bute Street, and to help with new plans for further improvements at Cardiff Bay Train Station."