A popular hotel in a Pembrokeshire beauty spot has secured a bright new future after being bought by new owner Robert Jones and hotel manager Matthew Pugsley.
The 10-room Lamphey Hall hotel in the village of Lamphey was recently put up for sale. In addition to a £50,000 loan from the Development Bank of Wales, Rob and Matthew have invested their own money as well as securing a personal mortgage from NatWest. The micro loan from the Development Bank bridged the gap between their finance and the asking price, allowing them to buy the hotel as a going concern. The deal has enabled them to safeguard the jobs of 12 existing members of staff.
The former rectory is just two miles from Freshwater East beach and is popular with business guests and tourists. Lamphey Hall also boasts a bar and evening bistro restaurant.
New owner Rob Jones said:
“When the opportunity arose to buy Lamphey Hall I jumped at it. Being able to own and run our own business in such a beautiful part of the world is a dream come true. We just needed a small amount of extra capital to make the dream a reality, which is where Emily and the Development Bank came in.”
Emily Wood was the investment executive who arranged the loan from the Development Bank for the acquisition:
“I was blown away by the opportunity when Rob and Matthew showed me around the hotel and talked about their passion for hospitality and their ambitions for the business. They had already secured most of the money they needed to make the purchase and we were delighted to be able to help them get this over the line.”
The loan came from the Wales Micro Loan Fund, which offers loans with terms up to 10 years from £1,000 to £50,000.
Lamphey Hall has reopened under new ownership and is preparing for the busy holiday period.
The hotel was fully booked over the holidays, with 90 guests over the Christmas and New Year period.
“We’re excited and our very experienced staff are ready to make sure everyone has a fun and memorable stay at Pembrokeshire’s best kept secret.”