Mumbles Pier has secured funding of £1.85m to “return the pier back to its former glory,” including plans to renovate the listed Big Apple kiosk and major structural improvements.
Mumbles Pier has secured £1.85m in funding in order to deliver a full renovation of the pier base, refurbish the listed Big Apple kiosk, and deliver a new “premium space.”
The investment was secured by Newable Finance from specialist lender Together, and will guarantee the pier’s future as it enters its 125th year.
“Mumbles Pier has always been entirely privately funded and this much needed injection will allow us to continue to do business while making further and much needed restoration works to return the pier back to its former glory,” said co-owner Bert Bollom.
“This money will ensure we can carry out the works and remain open for business, securing the future of our 130 staff members and all our customers.”
The plans are part of the multi-million pound redevelopment strategy already underway at the pier, which will see the opening of a new restaurant, public toilets, construction of a new access bridge for the lifeboat house, and the erection of new gates at the pier entrance.
The latest funding was sourced by Together and Newable on a commercial mortgage, reducing the pier’s overall debt, with Newable’s senior finance broker Josh Mendez stating: “With staycations being very on trend, leisure is an area we will invest heavily in, as the UK holiday market continues to grow.”
“It is important that we help all sorts of businesses and we are excited to be helping such a long-standing, family-run business such as the team at Mumbles Pier.”
The sentiment was echoed by Kash Moghul, business development director at Together, who hailed Mumbles Pier as “one of the finest tourist destinations in South Wales.”
“In many ways, the Bollom family’s entrepreneurial vision reflects our own and that’s why we’re proud that our funding will help them achieve their ambitions, paving the way for future generations of visitors to enjoy this magnificent attraction.”
The Bollom family have operated the pier since 1933, with brothers Bert and Fred Bollom spearheading a number of investments and improvements that saw Mumbles Pier included in The New York Times’ 2021 list of 52 Places to Love as a “must-visit destination.”