Picton House secures a six-figure loan from the Development Bank of Wales for expansion
The funding supports the conversion of outbuildings and the addition of eco-camping facilities.
Picton House is an eight-bedroom hotel located in Carmarthenshire that provides accommodation, dining with locally sourced produce, and regional tourism access.
Picton House has secured a six-figure loan from the Development Bank of Wales to fund its next phase of expansion. The owners are using the capital to renovate historical outbuildings into new guest rooms, including two-bedroom and one-bedroom apartments equipped with hot tubs.
In addition to the outbuilding conversions, the funding supports the development of an adjacent field for eco-camping. The project aims to increase capacity ahead of the 2024 tourism season.
Gareth Peters and Holly Nelmes acquired the property in 2017, transforming it into a popular destination near the West Wales coast. The Wales Tourism Investment Fund provided the debt financing, which offers loans ranging from £100k to £5m.
Use of funds
- 01Build out infrastructure
Investors
About the company
Picton House
Picton House operates an eight-bedroom hotel and guest house in rural West Wales.