Brecon, Lampeter, Llandrindod Wells, Llandysul, Newtown and Tregaron are all set to benefit from new Welsh Government investment.
Deputy Housing and Local Government Minister Hannah Blythyn has announced £1.5 million of Welsh Government funding for a new £2.14 million Town Centre Property Investment Fund across Powys and Ceredigion councils. The fund will bring vacant commercial, residential and retail space back into use across the 6 mid Wales towns.
Hannah Blythyn said:
We want to support local businesses, grow our fantastic town centres and create job opportunities in mid Wales. Creating more good quality commercial and retail space will help with this, as will creating homes in the centre of our towns, so people can live and work centrally and contribute to the local economy.
This fund will help to create opportunities out of empty properties and attract more people to our town centres. I look forward to seeing some exciting refurbishments, and businesses growing and prospering across towns in Ceredigion and Powys as a result.”
The fund will be a package of support including loans, private investment and grants, and people applying will have to demonstrate that existing grant and loan finance options have been properly considered and exhausted before they seek funding via this route.
Powys County Council will manage the administration of the programme.
Powys County Council Cabinet Member for Regeneration, Councillor Martin Weale said:
We are committed to making sure our town centres are attractive, vibrant places for people to live, work and visit. Today’s news will provide a major boost for the individual towns and support their local businesses.
The funding will also support our wider aspirations to strengthen the whole economy by stimulating regeneration work and building upon the many major investment projects that the council has in progress and is planning across Powys. The council’s regeneration team are hard at work on these projects and the first point of contact for anyone interested in the scheme.
Councillor Rhodri Evans is Ceredigion County Council’s Cabinet member responsible for Economy and Regeneration. He said:
Llandysul, Tregaron and Lampeter are so much more than the bricks and mortar that make up the towns. They are the homes of vibrant communities who are passionate about their patch of Ceredigion. For these communities to thrive in the future we need to see a reverse of the decline of our town centres. The Town Centre Property Investment Fund goes some way to achieving that, and I’m hopeful that it has a real impact.
The Welsh Government funding is part of the Targeted Regeneration and Investment programme, which is providing £100 million of capital funding across the country over three years to support regeneration projects in town centres and neighbouring areas.
This funding is supported by estimated further investment of at least £60 million from other organisations and businesses, providing an overall boost of £160 million to communities all over Wales.