Hotel starts next phase of business thanks to Development Bank of Wales

Investors in this round: Development Bank of Wales

A guest house set in picturesque rural West Wales is set for expansion with the support of the Development Bank of Wales.

Picton House, an eight-bedroom hotel based in a former coaching house near St Clears, Carmarthenshire, has been able to start expansion plans into adjoining land and renovating old outbuildings into new rooms thanks to a six-figure loan from the Wales Tourism Investment Fund.

Owners Gareth Peters and Holly Nelmes took on ownership of the hotel in 2017, and have since turned it into an attractive guest spot for those visiting the beaches and scenic highlights of the West Wales coast.

The hotel includes a restaurant serving locally-sourced and fresh food – including vegetables from Picton House’s own grounds.

Conversion of the outbuildings – including a former stable – has already started, with owners looking forward to having them ready and available to guests in time for the 2024 season.

Plans will see the addition of two new two-bedroom apartments and four one-bed apartments with hot tubs, as well as using a neighbouring field to offer eco-camping.

Holly Nelmes, owner and manager at Picton House, said: “We’re really pleased that we’ve been able to start work on our expansion plans, and we’re looking forward to welcoming even more guests and visitors to this beautiful part of Wales once they’re complete.

“A lot of the outbuildings were in need of renovation, and we wanted to take advantage of the space we provided so we could expand on our existing offer. We’re really glad to have done this with the support of the Development Bank of Wales.”

Ashley Jones, investment executive at the Development Bank of Wales, said: “It was a pleasure to work with Holly and Gareth at Picton House. The effort and hard work they’ve put into the business is amazing, and we’re glad to have helped them reach the next phase of what they want to do with the hotel.”

The Wales Tourism Investment Fund offers loans between £100k and £5million, with repayment terms of 10 to 15 years.