WORK has started on transforming a derelict building into a budget hotel on Gloddaeth Street in Llandudno.
Both Travelodge and Glasgow-based Maven Capital Partners, who secured a vast amount of funding for the project, confirmed that work had begun on converting the former Clarence hotel site, which has been empty for four years, into an 82-bedroom chain hotel.
A Travelodge spokesperson said: "We are delighted that work has started on site and look forward to our hotel opening in the Easter of 2014.
"When open, the hotel will create are 15 jobs. Entry level roles will be recruited from the long-term unemployed via Job Centre Plus.
"We have no doubt that the hotel will quickly operate with very high occupancy levels and are looking forward to playing a key role in Llandudno's economy.”
Shlomo Memorial Fund Limited currently retains the freehold of the property and is providing a ground lease to Glasgow-based Maven.
Maven Capital Partners secured a funding package of £4.6m towards the project, utilising tax benefits available under Business Premises Renovation Allowance (BPRA) for refurbishing empty commercial properties in qualifying areas.
Cllr Francis Davies said he was pleased to hear that work had started, commenting that the premises had been in a ‘sorry state for too long.’
He said: “Myself and a lot of other people are glad that Travelodge have decided to invest in Llandudno - they must think it is money well spent. Any new investors to the town are welcome and creating 15 new jobs is good at anytime.
“Travelodge's are renown for hold conferences and functions which in turn will bring in revenue for the town which is always a good thing.”