18 May 2015
Former hotel development set to breathe new life into Saundersfoot
A new £5 million residential and commercial development at the former Cambrian Hotel has brought new life into the centre of Saundersfoot.
The hotel, which ceased trading in 2006, has been developed by DAW (Saundersfoot) LLP, a joint venture partnership between property development company Actoris, property investment firm St Brides Ltd and Waterstone Homes. The development was funded by Principality Commercial.
The development, now known as Cambrian Quay, which has fantastic sea views contains eight contemporary townhouses, which have all been sold. The site also has five apartments and two commercial units, including a restaurant with courtyard. The restaurant has been let to an award winning restaurateur currently running the Harbourmaster and will trade as the Boathouse.
Gary Price from Principality Commercial, the commercial arm of Principality Building Society, said: “The Cambrian Hotel is in a perfect location, just a few steps from the beach in Saundersfoot, but sadly it had been empty for years.
“The development now brings high quality homes to the area to regenerate and breathe new life into Saundersfoot so that it can be enjoyed by residents and tourists for many years to come. It is to the credit of the development team here that they have created an innovative and exciting scheme on a site which has lain dormant for so long.
“This is one of many development deals funded by the Society over the last 12 months which has seen new lending exceed £100m – the highest figure for completions for several years. This reinforces the strength of the current market and demonstrates our appetite for new lending opportunities.”
Matt Bryant from developer Actoris, said: “Cambrian Quay has transformed the centre of Saundersfoot and forms part of our ongoing investment into this beautiful coastal village. Principality Commercial backed the development from the start and shared in our vision to help regenerate Saundersfoot.”
Simon Jehu from Waterstone Homes, said “We are delighted with the sales achieved on the town houses. We have just released the sea view apartments for sale which are being extremely well received.”
The development is complete as plans have been announced for a multimillion pound scheme for Saundersfoot, which would see the harbour - first built 185 years ago - overhauled to improve access and ensure its long term viability.