Resort project ‘primed for international investment’
AMBITIOUS plans from Bluestone for a new £105m luxury tourism resort in north Wales is being promoted globally by the UK Government as a prime investment opportunity in the UK.
The project, at Holy Island on Anglesey, would see 500 luxury glassfronted lodges built on 200 acres of land, with access to a private beach, on the Penrhos Estate.
It would be larger than Bluestone’s existing resort in Pembrokeshire.
The project, known as Bluestone Holy Island Resort Ynys Mon, already has outline planning consent and subject to fundraising would see Bluestone acquiring the land from property development firm Land and Lakes.
The project is forecast to attract around 200,000 visitors a year and create 900 jobs once operational and an estimated 600 during its construction. It is scheduled to open in the summer of 2021.
Bluestone has appointed Cardiffbased corporate advisory firm Gambit to lead its fundraising activities, supported by Cardiff-based legal firm Acuity.
And in a boost to those efforts, the UK Government is now promoting the scheme as a prime investment opportunity in the UK, alongside a string of other projects, to overseas institutional investors, including sovereign wealth funds.
The announcement comes as the Secretary of State for Wales Alun Cairns attends the third Board of Trade meeting in Stirling, Scotland today, convened to help boost exports, attract inward investors and ensure the benefits of free trade are spread equally across the UK.
At the meeting, the UK Government’s International Trade Secretary Dr Liam Fox will launch a new drive to attract foreign investment into the UK
In total his Department for International Trade (DIT) is promoting 68 UK investment projects (including the Bluestone project) worth more than £30bn to overseas investors. With more to be added over the coming months, the projects will also be promoted through a revamped online one stop shop for potential investors: invest.great.gov.uk.
Mr Cairns said: “Bluestone’s venture in north Wales is just one of the many projects being primed for international investment here in Wales. And the UK Government is wholly commitment to creating the conditions to make these deals happen.
“The initiatives we are launching today show how we will continue to work on behalf of every hardworking business in the UK to drum up trade, encourage international investment and pave the way for growth which generates jobs, security and a more prosperous Wales in the future.”
Anglesey Council’s economic development and major projects portfolio holder, Carwyn Jones, said: “This is very welcome news. Bluestone is already an established and respected name in the leisure sector and bringing them to Anglesey would be extremely positive in terms of investment, jobs and supply chain.”
“Attracting the Bluestone brand to the Penrhos site would undoubtedly also provide a huge boost for the tourism sector in Holyhead, on Anglesey and in north Wales, whilst also raising the Island’s profile internationally.”
“I am now hopeful that through the support provide by UK Government’s Department for International Trade and the Welsh Government, a suitable financial package can be secured in order to bring Bluestone to Anglesey.”
Dr Fox said of the projects that are being promoted in the first wave of UK investment opportunities: “This is a bold and ambitious programme, building on the UK’s position as the leading destination for foreign investment in Europe through the government’s Modern Industrial Strategy, helping to build a Britain fit for the future.
“The high potential opportunities scheme will deliver growth where it is most needed, ensuring that the benefits of global investment are felt in every part of the country.
“And with more than £30bn worth of new opportunities, my international economic department’s overseas network is working hard to attract top investors to the UK.”
Chief executive of Bluestone, William McNamara, said: “The resort will be sensitively developed, respecting and protecting the language, culture and environment of this beautiful coastal location.
“We can give hundreds of young people a start in their working lives and for older people, a new challenge or a change of career and bring success and prosperity to this special part of north Wales.
“We have a wealth of experience working with local suppliers and have helped build a huge variety of businesses in Pembrokeshire over the past decade. We believe we can replicate the same in the community of Ynys Môn.
“It will be a significant deal for Wales and give a huge boost to Welsh businesses. We will attract thousands of families from around the UK and Ireland to visit our beautiful country, spend their holidays here and be part of our Bluestone story.”