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Gambit to Advise Bluestone on New £105m Development

16 May 2018

Bluestone has revealed ambitious plans for a second luxury tourism resort in Wales.

In what would prove a huge boost to Wales’ tourism sector, the larger luxury resort will add to its existing Pembrokeshire site and has been earmarked for Anglesey (Ynys Mon).

The £100m plus development would directly employ 900 people once operational and an estimated 600 during its construction.

Bluestone has struck a deal with property development firm Land and Lakes to acquire 200 acres of land on the Penrhos Estate, for the project that is expected to attract around 200,000 visitors a year.

The resort is being called Bluestone Holy Island Resort Ynys Mon.

Land and Lakes originally planned to use the land, acquired from Anglesey Aluminium, to provide a huge accommodation complex for the thousands of workers expected to build the yet to be finalised Wylfa Newydd nuclear power station.

However, that project would have been transformed into a tourism resort. This is now being taken forward by Bluestone.

Its project includes:

  • 500 glass fronted luxury lodges giving visitors access to their own beach.
  • All new weather facilities including an indoor water park and indoor sports hall.
  • A wide range of cafes, bars and restaurants.

The resort aims to open in the summer of 2021 and already has outline planning consent.

Bluestone is being advised on its fund raising by Cardiff-based corporate advisory firm Gambit and legal firm Acuity. It has already committed development funding for the project.

Bluestone is seeking to raise £105m to realise the project ‑ targeting long-term institutional investors such as pension funds. But it could also potentially attract the interest of sovereign wealth funds.

With its existing Pembrokeshire resort thriving, following a management buyout last year led by its chief executive William McNamara‑ which gave staff a 30% equity stake in the business - Bluestone will seek to exploit the potential huge visitor market on the project's doorstep in the north west of England and major cities such as Liverpool and Manchester.

And with the port of Holyhead also nearby, it is also expected to attract significant visitor numbers from Ireland.

Mr McNamara said: “We are delighted to announce that Bluestone will create another unique short break destination bringing millions of pounds of investment and hundreds of jobs to Holy Island, Ynys Môn.

"Our outward looking ethos will prevail and that means we will be working with local contractors, suppliers and the people of north Wales to deliver another world class destination.

"The resort will be sensitively developed, respecting and protecting the language, culture and environment of this beautiful coastal location.

"We can give hundreds of young people a start in their working lives and for older people, a new challenge or a change of career and bring success and prosperity to this special part of north Wales.

"We have a wealth of experience working with local suppliers and have helped build a huge variety of businesses in Pembrokeshire over the past decade. We believe we can replicate the same in the community of Ynys Môn.

It will be a significant deal for Wales and give a huge boost to Welsh businesses. We will attract thousands of families from around the UK and Ireland to visit our beautiful country, spend their holidays here and be part of our Bluestone story.”