We were extremely grateful to the Development Bank of Wales and Visit Wales for their assistance. Their commitment to progressing development and tourism in Wales for the benefit of future generations is commendable.
James Morse, Managing Director, Nextcolour Limited
Swansea-based Nextcolour Ltd are the developers behind the Oyster Wharf project in Mumbles; a waterfront development that’s regenerated the area.
Founded in March 1995 with the aim to deliver a vision that will capture residents and visitors alike, Nextcolour’s proven track record in innovation and delivering retail and leisure development projects made them well qualified to deliver the exciting waterfront regeneration project.
The Oyster Wharf Mumbles project
In 2017, Oyster Wharf Mumbles was officially opened. The scheme saw The Tivoli – a historic Art Deco shopping arcade - reinstated as the focal point of Mumbles’ historic waterfront.
The Tivoli was rejuvenated to include sophisticated restaurants, gyms, a spa and retail facilities.
James Morse, Managing Director of Nextcolour Ltd, commented: “The finished development offers the perfect mix of retail and dining for the whole of Swansea and became a destination for those looking to explore the history, heritage and beauty of Mumbles from surrounding areas and from further afield.”
In December 2018, Nextcolour Limited unveiled plans for the second phase of the Oyster Wharf scheme which included more shops, a hotel and food and drink units.
With all the planning and design framework in place, it would require further financial backing to get the project off the ground.
Development Bank tourism investment
A £2 million investment from the Development Bank’s Wales Tourism Investment Fund, and the backing of Visit Wales, helped progress the build of a 16-bedroom boutique hotel which created 30 new jobs and was pre-let for 25 years to the City Pub Group. The Group has a portfolio of pubs across England and Wales in Cardiff.
James said: “We were extremely grateful to the Development Bank of Wales and Visit Wales for their assistance. Their commitment to progressing development and tourism in Wales for the benefit of future generations is commendable.”
Manuel Di Campli, one of our portfolio executives, said: “We are extremely pleased to have supported a prominent developer in creating a boutique establishment in a popular location in South Wales.
“Our relationship with James and John, and the opportunity to work closely with the management team ensured the timely completion of the project.”
Following nine months of construction, The Oyster House opened in September 2022. It has been given a four-star guest accommodation status by Visit Wales and the Welsh Government.
The Wales Tourism Fund continues to support hospitality and leisure operators who are looking to expand their businesses.
