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Birmingham Post
Birmingham Post
Business
Owen Hughes

Former headquarters of collapsed North Wales developer set for auction

The former headquarters of a developer in North Wales is heading to auction.

GM Jones, in Llanrwst moved into the £1.3m HQ in 2018 backed by £400,000 from the Wales Economic Fund but then ran into financial problems - falling into administration in March 2019.

It left two GM Jones properties at Parc Ty Gwyn vacant.

READ MORE: Transport for Wales confirms dates for additional train services as delays hit rollout

One of those buildings - the main offices - went to auction last year for £425,000 but failed to secure a buyer.

It is now set to go back to auction next month with Auction House North West.

The online sale takes place on October 13/14 and the 6,370 sq ft site has a guide price of £395,000.

Janet Finch-Saunders, MS for Aberconwy, has been critical that Welsh Government "carelessly" invested £400,000 of taxpayer’s money into the £1.3m headquarters.

She previously said: "That money could have gone a long way to support the creation of jobs in Llanrwst. Instead, what the Parc Ty Gwyn trouble has seen is 40 individuals lose their livelihoods."

Welsh Government has previously said it will work with the appointed administrator to ensure maximum potential recovery of any public sector funds provided.

They added that they will not "apologise for supporting Welsh businesses".

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