Feb 3rd, 2017
Green light for Celtic Manor development
£83.7 million International Conference centre deal done
Words: John Dean
Construction of the new International Convention Centre Wales (ICC Wales) will begin in March after funding details were agreed between the Welsh Government, Celtic Manor Resort and NatWest.
NatWest will provide a £51.5m loan facility to the joint venture company which will construct and manage the new convention centre as a 50/50 partnership between Welsh Government and Celtic Manor Resort.
The Welsh Government and Celtic Manor Resort have also signed contracts to establish a shareholders’ agreement and project management agreement to build and run ICC Wales.
With a total development cost of £83.7m including car parking and external landscaping, ICC Wales will be capable of accommodating up to 5,000 delegates with a total floor space exceeding 26,000 square metres. It is projected that the new facility will open for business in June 2019.
The centre will house a 1,500-seat auditorium and separate exhibition hall which, at 4,000 square metres, will provide the largest pillar–free ballroom in Europe, capable of hosting 2,400 people for a gala dinner.
This investment has to take Celtic Manor into a different league, and it's great to see such an ambitious project get the go–ahead.