Three buildings in Cardiff's city centre are to be transformed after securing government-funded loans to help with the projects.
The buildings - including a former nightclub and a listed building - have secured £2.35m in interest-free loans from the Welsh Government Transforming Towns Loans programme.
The loans have been granted via Cardiff Council to help with repurposing and regeneration plans in line with the authority's recovery strategy.
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One of the buildings granted the loans is Imperial Gate on lower St Mary Street, the home of former Liquid nightclub.
The loan will be used to redevelop the building into a new golf-themed leisure attraction, Par 59.
It was announced last year that Par 59, which has footballer Gareth Bale as a parter, will take over the 23,000 sq ft site in spring 2022.
Developed by the team behind Cardiff's The Depot, the plan was for the venue to be based in the 18,000 sq ft basement of the Capitol Shopping Centre in the city centre.
Draft plans indicated two adult-only, mini-golf courses, two large bar and dining rooms and two independent street food kitchens.
However, after facing a number of delays due to the coronavirus outbreak and subsequent restrictions, work on the original site stalled.
But developers say when a new, larger, city-centre premises came to the market, the Par 59 team decided to scale up their ambitions.
Now, the extra 5,000 sq ft allows the bar to add a third mini-golf course – taking the venue from two 12-hole courses up to three 9-hole courses which are currently being built by local company Wild Creations.
A new billiards room will also be based on the second floor.
Par 59 marks a second step into the hospitality sector for the star footballer, following on from the opening of Elevens Bar & Grill in Cardiff in 2017.
The new bar is the result of a partnership between Bale’s company Elevens Group LTD and The DEPOT, one of Wales’ most successful, independent entertainment brands.
Another well-known business in Cardiff to benefit from the loan is The 44 Group, who own restaurants Bar 44 and Asador 44 in the capital.
Owners of the successful business first announced plans to open a boutique hotel on the upper floors of Asador 44 on Quay Street in March 2021 , when a planning application was submitted to Cardiff Council.
Work on the hotel is due to begin in mid-January with aims to open in June 2022.
Parador 44 will be one of Cardiff city centre’s first luxury boutique hotels. With nine individually decorated bedrooms featuring tiled floors and ornate wooden panelling, other aspects of the hotel will include an Andalucian-inspired outdoor terraza and a residents’ lounge with self-pouring fine wine.
Speaking about the new hotel, Tom Morgan, 44 Group director, said: “Parador 44 is the culmination of many years of dreaming about opening our very first hotel. We have been travelling throughout Spain since childhood seeking inspiration for the project.
“During our trips, we have often stayed in the paradores found throughout the country. They are, in the most part, incredible historical buildings such as convents or monasteries which have been converted to hotels and run by the Spanish state to facilitate the upkeep of these important historical buildings. The vision is to provide an oasis of modern Spanish comfort in the city centre.
“Guests will be able to enjoy the renowned 44 Spanish food, drink and hospitality in both Asador 44 on the ground floor of the hotel and around the corner in the Bar 44 tapas bar.”
The third building to receive the loan is number 30-31 Windsor Place in the city centre.
The loan will be used to convert the listed building into offices and incubation spaces for leading technology and fintech businesses.
The Loan funding was awarded to the Council by Welsh Government. The fund has been used in the past to regenerate buildings such as the Tramshed in Grangetown, and the Butetown Railway Station.
The Deputy Minister for Climate Change Lee Waters said: "The Welsh Government are investing significant amounts to give this boost to Cardiff not only to restore buildings, but to restore confidence in the city centre after a difficult period."
Cllr Russell Goodway, Cabinet Member for Investment & Development said: "The Covid pandemic has impacted the city centre where we have seen a significant fall in business activity leading to a rise in vacant space within the property stock in the centre of Cardiff.
"So I am delighted to be able to focus Council resource in repurposing these buildings, supporting businesses bringing new sustainable uses into the city centre. This will help the city centre recovery post-pandemic, create jobs, and contribute to the footfall recovery.
"The Council's Loans programme supported by the Welsh Government, has already demonstrated its effectiveness in supporting business regenerate vulnerable buildings across Cardiff. The Tramshed and the Butetown Railway Station are shining examples of what can be achieved. I look forward to seeing these new businesses, which have secured funding, thrive in the same way."
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