The redevelopment of a former livestock market in Llanidloes is set to receive £2 million as part of a Welsh Government scheme to "breathe new life into old and empty properties".

Powys County Council will receive its share of £18.4m Transforming Towns loan funding which will be used to boost town centres across Wales.

Construction work is underway to build 22 houses at the former livestock market site in Gorn Road as part of Powys County Council's plans to build 250 homes over the next five years.

Projects funded by Transforming Towns since 2018 (total project cost)

  • Riverside Venue, Newtown - £950,000 (£1.9 million)
  • Automobile Palace, Llandrindod Wells - £1,585,000 (£3,305,000)
  • Green Infrastructure, Newtown - £500,000 (£760,000)

Deputy Minister for Housing and Local Government, Hannah Blythyn said: “As part of our Transforming Towns approach, we have invested over £40m of Town Centre Loans funding over this Senedd term, enabling the redevelopment and occupation of many town centre buildings across Wales.

"I look forward to seeing more homes, offices and businesses developing thanks to the property improvements we will see as a result of this latest round of funding.”

The properties will be redeveloped as shops, homes and leisure facilities, with loans being recycled up to three times over a 15-year period. Once repaid they can be used again to fund new loans and be re-invested in similar projects.

Work on the new council homes in Llanidloes is well underway, which sees two four-bed houses, four two-bed houses, six three-bed houses, eight two-bed bungalows and two three-bed dormer bungalows being built by J. Harper and Sons at the Gorn Road site.

Nigel Brinn, the council’s Corporate Director for Economy and Environment, said: “I’m delighted that we have secured this town centre loan from the Welsh Government for our exciting housing development that is being built in Llanidloes.

“The council has an ambitious target for building 250 new homes by 2025 as part of our Vision 2025. We are already making excellent progress to meet this target with several housing projects currently under construction including the development at the former livestock market in Llanidloes.

“Once complete, the new homes will help address the rising demand in the county for affordable homes.”

Since 2015, the Welsh Government’s Town Centre Loans programme has funded local authorities to support landlords to redevelop empty and underutilised properties.

Under this round of funding, local authorities can act directly and use their share of the £18.4m to step in to buy and redevelop properties to support the diversification of our town centres by encouraging more sustainable uses for empty sites and premises, such as residential, leisure and for key services. 

Once the Town Centre Loan is repaid, the money will be recycled to fund new loans, bring empty and derelict sites back into use, help businesses to grow and prosper, and support activities to increase footfall on Welsh high streets.

Powys County Council has received Transforming Towns loans and grants worth more than £3 million since 2018. Projects include Newtown's £1.9 million Riverside Venue, redeveloping the Automobile Palace in Llandrindod Wells to provide office and light industrial space; and 'greening' Newtown town centre with environmental improvements.

Another £1.5 million has been given to improve empty or underutilised properties in six town centres across Powys and Ceredigion.