Denbigh business buys Denbighshire country home and estate thanks to loan from the Development Bank of Wales

Will-Jones
Investment Executive
Published:
Updated:
Pool Park

The Denbighshire-based Godfrey Group has started work on redeveloping a former asylum and estate near Ruthin, with long-term plans to redevelop the site for leisure and hospitality purposes.

The business purchased the site supported by a substantial six figure loan from the Development Bank of Wales, from the Wales Flexible Investment Fund. 

Pool Park is a former asylum at Efenechtyd, with buildings and grounds dating back to the early 1800s. The circa-30 acre plot was the site of a substantial hall and farm which became dilapidated but a manor house dating back to 1824, along with a coaching house, neighbouring boiler block and lodge house. remain on site. The house was sold in the 1930s, and was briefly used as prisoner of war camp during the Second World War.

Godfrey Group provides facility services to a number of companies in the leisure, housing and education sectors, with clients including Adra, Grwp Cynefin, Center Parcs, Darwin Escapes and local authorities. They are also a strategic partner for Hoseasons. 

The business currently operates out of an office on Denbigh Industrial Estate, and will move to Pool Park as part of the renovation plans, which will also see them redevelop the wider site for holiday lets over the next five years.

Andy Godfrey, MD of Godfrey Group, said: “We’re really pleased that the Development Bank of Wales has been able to see our vision for this site. The loan provided allowed us to buy Pool Park and then hit the ground running with our plans for redevelopment.”

“It’s a beautiful house and grounds in a beautiful part of the world, and while the potential is there for redevelopment, we want to do everything we can to respect and preserve the features that are already here. A lot of the site has fantastic examples of Georgian workmanship and that deserves to be kept for future generations.

“We’ve already had a lot of interest locally from people who know the site well or used to work there. That response has been great to see, and it’s encouraging to hear from so many people who can see the love we have for Pool Park and are confident in our plans for the old estate.”

Will Jones, Investment Executive at the Development Bank of Wales, said: “Andy and the team at Godfrey Group are clearly enthusiastic about what they’ve got planned for Pool Park, and it was a pleasure to support them in bringing their vision for the estate to fruition. The initial move to a new office, once completed, will allow them to expand the existing business, and Pool Park has great potential for leisure and accommodation expansion.

“We look forward to watching the work at Pool Park as it develops, and wish Andy and everyone at Godfrey Group the best of luck with their plans for the future.”

The £500m Wales Flexible Investment Fund (WFIF) offers investment for deals between £25,000 and £10 million, with a mixture of loans, mezzanine finance and equity investments available.

For more information, visit www.developmentbank.wales