Businesses collect keys and ready for a fresh start
TWO successful Carmarthenshire businesses have recently collected the keys to their new purpose-built premises at Parc Pensarn after receiving backing from the Development Bank of Wales and Carmarthenshire Council.
The new retail and industrial site is just 1.2 miles from Carmarthen town.
Old Oak Dental Practice received a £1.2 million loan from the Development Bank to buy and fit out a purpose-built six-chair dental practice.
Likeafish Swim School now has its own pool to help more children learn to swim after receiving a £400,000 loan from the
Development Wales.
Likeafish was also supported by Lloyds Bank through a commercial mortgage.
Funding for both deals came from the Wales Business Fund, which is part-funded by the European Regional Development Fund through the Welsh Government.
Both companies also received grant funding from Carmarthenshire Council to help with overall project costs.
Successful dentist Dr Adam Llewellyn owns and manages three surgeries
Bank of in Llandeilo, Llandovery and Carmarthen.
His new, larger practice at Parc Pensarn will replace the existing surgery in Carmarthen town centre, which is proposed to be turned into flats.
“I’m excited to have received the keys and am looking forward to welcoming patients to our new Carmarthen base,” explained Adam.
“The new surgery allows for more dentists to work safely together, as well as providing ample parking for both staff and patients.
“I’m delighted by the support I’ve received from the Development Bank. The process has been smooth despite operating during a global pandemic.” Likeafish Swim School already delivers swimming lessons to just over 450 children.
Managing director Russell Sparks is hoping to help even more children learn to swim in West Wales now that he has his own pool.
He said: “We’ve been helping children learn to swim across Carmarthenshire for over 10 years now. Having our own pool was the next logical step to meet the demand for our highly popular classes.
“The loan from the Development Bank of Wales has made that next step achievable and we’re looking forward to welcoming back old pupils as
well as new customers once lockdown restrictions are eased.
“We are also pleased the facility will allow us to expand our provision of activities to include parent and baby classes as well as adult swimming on top of our existing learn to swim program.”
Investment executives Ashley Jones and Clare Sullivan structured the deal for Old Oak Dental Practice on behalf of the Development Bank. Ashley also arranged the loan for Likeafish Swim School.
He said: “It’s been a pleasure working with both businesses over recent months and I’m pleased they will soon be welcoming customers to their new premises at Parc Pensarn.
“Russell and Adam are both successful local entrepreneurs and we’re delighted to help them take the next steps in their companies’ growth journeys.”
Carmarthenshire Council leader Cllr Emlyn Dole said: “The council is delighted to have provided funding support to the Old Oak Dental Practice and Likeafish Swim School to develop new premises and employment space for new jobs in Carmarthenshire.
“Providing new jobs for people in Carmarthenshire is a key priority for the executive board and I was pleased we were able to support these ventures.”
To find out more about how the Development Bank of Wales can support businesses, visit the website at https://developmentbank.wales/