Local property developer Harmoni has acquired the Golden Grove (Gelli Aur) Mansion and 100 acres of grounds in West Wales for redevelopment as a country house hotel and residential scheme.
It’s paid close to the £1.5m asking price for the 19th century property near Llandeilo, which includes formal gardens and arboretum.
Plans by the Welsh Development Agency to turn the mansion into a centre for new media companies foundered last year when a preferred developer hit financial problems.
Harmoni Director Marcus Liassides said discussions were now already underway with a number of niche hotel operators.
“We have acquired Golden Grove with a view to restoring it to its rightful place as one of Wales’s most significant buildings,” he said.
“The building is truly a one-off, combining spectacular architecture with stunning landscapes, and offers a very significant opportunity for a hotel operator.
“It is also our intention to seek permission to convert an element
of the building into luxury residential apartments,” he added.
Until the autumn of 2003 the property was part of Carmarthenshire Agricultural College, where it was used for teaching and residential purposes.
The developer was advised by Phil Jardine, Partner at Morgan Cole, who said “This is a strategic acquisition for Harmoni Developments and this will become a significant addition to Wales as a leisure destination of choice”.
Cooke & Arkwright and Knight Frank acted for the unnamed vendor.
Harmoni Developments comprises a group of investors headed by
Yorkshire-based entrepreneurs Simon and John Bhullar.
In South Wales, it is currently redeveloping The Old Town Hall in Merthyr Tydfil, where 70% of the 26,000 sq ft space has been pre-let.
It also has a significant stake in a 1,500 acre mixed use site ‘The
British’, near Pontypool, which has outline planning permission to build 500 houses along with community, leisure and retail facilities.
References: EGi News 21/03/05
