One of the most iconic and best loved piers in Wales has secured a huge cash sum for further restoration works to return it to its former glory. A deal has been struck which will see £1.85 million in funding invested into Mumbles Pier.
It is part of a re-finance plan so works can start on the next stage of refurbishment including full renovations to the base of the pier, allowing, according to the pier owners, for a space in an unrivalled location for alfresco dining and outdoor events and securing jobs for the next seven years.
It will also go towards updating the Big Apple, which WalesOnline recently reported had become a shadow of its former self. A shattered window, a buckled door and even graffiti reading 'No to vaccines' are among the signs it has sadly become a target for vandalism and anti-social behaviour. You can read more about that by clicking here. And you can get Swansea stories straight to your inbox with our newsletter.
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Chairman of Ameco, the company that owns the pier, Bert Bollom, said: “Mumbles Pier has always been entirely privately funded and this much-needed injection will allow us to continue to do business while making further and much-needed restoration works to return the pier back to its former glory. This money will ensure we can carry out the works and remain open for business, securing the future of our 130 staff members and all our customers.” You can read more stories about Mumbles here.
The 835ft pier attracts more than 750,000 visitors every year. It features an arcade, restaurants, outdoor activities and the Mumbles RNLI station. The New York Times also included the landmark Victorian pier as one of the best places to visit in the world. The pier now belongs to Mr Bollom and his brother Fred, third-generation owners, who took over from their father in 2015, and has been in the family since 1933.
The funding has been brokered by Newable Finance, which has secured a deal with specialist lender, Together
Senior finance broker property at Newable, Josh Mendez said: “We received the opportunity to help refinance Mumbles Pier to help towards future restoration works. With staycations being very on trend, leisure is an area we will invest heavily in, as the UK holiday market continues to grow. At Newable, it is important that we help all sorts of businesses and we are excited to be helping such a long-standing, family-run business such as the team at Mumbles Pier. We and the Together team look forward to supporting the business so that they can give back to their community.”
And Kash Moghul, business development director at Together, added: “The Victorian pier is one of the finest tourist destinations in south Wales and has seen a great deal of investment over the past few years for the owners to make a series of impressive improvements. In many ways, the Bollom family’s entrepreneurial vision reflects our own and that’s why we’re proud that our funding will help them achieve their ambitions, paving the way for future generations of visitors to enjoy this magnificent attraction.”
Further work, funded separately, will start at Mumbles Pier in 2023 to create a beach front hotel and function rooms, luxury apartments and an additional 80 seater sea view restaurant and bar.
