£750k loan scheme for Llanelli town centre buildings

UP to £750,000 is being made available to help bring vacant, derelict or underutilised properties in Llanelli town centre back into economic use.

Carmarthenshire County Council has secured funding via the Welsh Government Town Centre Loans Fund, and will be making loans available to eligible applicants who wish to regenerate properties and redundant development sites within the Llanelli Town Centre boundary.

Interest free loans of £25,000 and over will be offered on the basis of 75 per cent Loan to Value, repayable over five years.

It is hoped that the loan will support private sector led initiatives and improve the vibrancy of Llanelli town centre.

Cllr Emlyn Dole, Leader of the council and Chair of the Llanelli Town Centre Taskforce, said it is a good opportunity for businesses, landlords and developers to kick-start regeneration projects for the benefit of the town.

“We would ideally like to see the regeneration schemes funded by this loan scheme enable the creation of town centre floor space for commercial, leisure and residential uses and assist, enable and support the regeneration and diversification of Llanelli Town Centre,” he said.

Cllr Meryl Gravell, Executive Board Member for Regeneration, added: “The council’s regeneration team has worked hard to secure this funding, which will be a support to businesses and developers to bring empty or underutilised properties in and around Llanelli town centre back into use.

“I’m really pleased that this long-term vision is now moving forward.”

Visit www.carmarthenshire.gov.wales/Llanelli-loan for further information. Interested parties should contact Barry Hale on 01554 748813.

• Applicants who are aiming to develop properties for the purpose of residential use only can explore options of applying for the Houses to Homes Loan Fund by contacting Leighton Evans, Empty Property Coordinator on 01554 899247 orLeEvans@carmarthenshire.gov.uk