Investment will support next phase of redevelopment at former hospital estate now home to 80 tenants
A MAJOR regeneration project transforming a historic estate in the heart of Carmarthen has been boosted by a £750,000 loan from the Wales Flexible Investment Fund, managed by the Development Bank of Wales.
The funding will support Phase 2 of the redevelopment of Parc Dewi Sant, a 38-acre site which was once a former mental health hospital. The long-term aim is to restore and repurpose the estate’s 22 buildings—some of which are listed—into high-quality commercial space while supporting a wide range of community services.
Parc Dewi Sant has spent the last two years breathing new life into the site, with much of the second phase already underway. Developers say a significant portion of the work has been completed on time and on budget, reducing delivery risk and allowing further progress.
Since acquiring the estate, Parc Dewi Sant has attracted 60 new tenants, bringing the total number of occupiers on the site to 80.
Tenants now include Swansea University, Hywel Dda University Health Board, Carmarthenshire County Council, Dyfed-Powys Police, and a number of health, wellbeing and community organisations, including Space to Breathe, Meithrinfa Lilliwenfach Nursery, CFK Gym, Meddygfa Parc, Dewi Sant Dental, Hwbod+ Gym, and The Independent General Practice.
The project is led by majority shareholder and director Mark Andrews, a developer with experience in converting listed buildings. The family-run business also includes his daughters Izzy and Polly Andrews, who play key roles in delivering the scheme.
The site is managed by Savills and has become a growing centre for community services and employment. Parc Dewi Sant has also welcomed 14 charitable and community interest organisations with a permanent base, while many others use hot desk and activity space at The Carmarthenshire Living Well Centre.
Around 700 people a month use the site to access free community services, and an area of the grounds has been dedicated for public community use.
Environmental improvements have also been introduced, including 500 solar panels, upgraded LED lighting, and plans for new electric vehicle charging points.
Mark Andrews said: “This is an iconic estate with enormous potential and we’re proud of the progress we’ve made over the last two years to turn it into somewhere that works for Carmarthen and the wider community.
“Bringing new tenants onto the site is vital for long-term sustainability, but so is creating a genuine hub for services that improve people’s lives.
“The support from the Development Bank of Wales has enabled us to keep momentum behind Phase 2.”
The Development Bank of Wales said the project was a strong example of regeneration delivering both economic and social value.
Sally Phillips, investment executive at the Development Bank of Wales, said: “Parc Dewi Sant is a strong example of regeneration done with purpose.
“The estate has quickly become home to a growing mix of tenants and vital services, while also providing meaningful support to the third sector and the wider community.”
Parc Dewi Sant is now exploring further opportunities for the site, including the potential development of additional community-focused facilities as demand grows.
The Wales Flexible Investment Fund is worth £500 million and provides finance to Welsh businesses with terms of up to 15 years. Funding is available in the form of loans, mezzanine finance and equity investments ranging from £25,000 to £10 million.
