New loan fund to help regenerate Caernarfon

Gwynedd Council

A loan fund has been created to help business owners in Caernarfon town centre renovate and regenerate.

Gwynedd County Council says £700,000 of Welsh Government funding has been set aside for helping property owners to refurbish and make use of empty buildings. The scheme is now set to be extended to Bangor city centre.

Among the High Street businesses to benefit are Byncws Tŷ Glyndŵr, which has opened a new town bunkhouse, cafe and bar, and Tŷ Castell Cyf, which is behind a new boutique hotel and restaurant.

Rhys Davies from Byncws Tŷ Glyndŵr said: ”In a period where public funding is much reduced, the availability of funding initiatives like this is of great importance to small local businesses.”

Tŷ Castell owner Gareth Jones added: ”As a local business we are very happy to have received funding to renovate our High Street premises. It’s very important for both locals and visitors alike that Caernarfon Town Centre remains a vibrant and attractive place. I urge property owners within the town centre to make use of the funding that’s on offer.”

The council is now set to be awarded further funding to set up an interest free loan scheme for property owners in Bangor to renovate their premises.

Councillor Ioan Thomas said: ”Over the years, the council has been working closely with its partners in order to regenerate the area…we urge people who believe they are eligible to contact our business support team in order to find out more about the funding.”