Reward Funding has provided a £265,000 funding package to support the redevelopment of the Hendrewen Hotel in South Wales, a project expected to create around 30 jobs and boost tourism in the northern Rhondda Valley.
The specialist lender has structured a flexible drawdown facility for experienced property investor and developer Martin Roberts, who is leading the redevelopment of the former hotel and pub in the village of Blaencwm.
Once complete, the Hendrewen Hotel will reopen as a themed hotel and gastropub, targeting visitors to the area including walkers, cyclists and mountain bikers. The project has attracted backing from local councils and both the Welsh and UK governments.
The £265,000 facility will support the ongoing refurbishment of the property, which was once a well-known part of the local community before falling into decline. The funding has been structured to allow capital to be drawn down as required during the redevelopment, helping to align borrowing costs with the pace of the project.
Roberts (pictured, right) has already committed significant personal investment to the scheme and says the redevelopment is intended to deliver wider benefits beyond restoring the building itself.
He says: “This project is about more than just refurbishing a property. The Hendrewen Hotel is part of the history in Blaencwm, and we wanted to create something that brings energy, opportunity and investment to the area.”
“There is incredible potential here, both from a tourism perspective and in terms of creating more jobs, supporting local people and giving younger generations access to opportunities to develop practical skills.
“I’m incredibly passionate about the project, and making the hotel a place the community is proud of.”
The redevelopment has a strong community focus, with local tradespeople involved throughout the construction phase. It is also providing opportunities for young people to gain practical experience by working alongside contractors on site.
David Owen (pictured, left), business development director at Reward Funding, adds: “This is exactly the type of project we want to support, particularly as many lenders are becoming increasingly cautious about the hospitality sector in the current market.
“However, we always look at the bigger picture and the true nature of each business. In this case, it is focused on long-term regeneration, employment and local economic impact.”
“Martin’s experience and vision for the property is fantastic, as is the wider benefit to the local area.
“The project has generated strong support on a local and government level and has the potential to become a catalyst for further investment in the area. We’re excited to see this journey come to life.”
Once completed, the redevelopment is expected to create approximately 30 jobs while helping to increase visitor numbers and generate wider economic activity across the surrounding area.
