The major redevelopment of one of the UK’s largest further education colleges is set to complete this Autumn with the support of Lloyds Bank Commercial Banking and the Welsh Government’s 21st Century Schools and Education Programme.
Construction at Coleg Cambria’s Yale Campus in North Wales is on course to finish in November, as the £21million development prepares to welcome students in the new academic year.
The 96,000 sq ft development offers state-of-the-art learning facilities. The project, supported by the Welsh government and a £7million funding facility from Lloyds Bank, forms part of a wider £60million investment programme across the college’s property portfolio in Wrexham and Deeside.
The campus overhaul is set to benefit Coleg Cambria’s 20,000-strong student populace, with the funding forming part of Lloyds Bank’s expectation to lend up to £1.1billion to Welsh organisations in 2020.
Gareth Jones, director of finance at Coleg Cambria, said:
“Our ongoing investment in education continues to make a significant contribution to the economy in North Wales as we look to invest across all five of our sites. We’ve been working towards ambitious plans to expand into higher education and degree-level apprenticeships, and these new facilities will be essential to realising that vision.
“A project of this size is inevitably complex; requiring a flexible approach to finance to ensure every piece of the jigsaw falls into place at the right time. The team at Lloyds Bank have been by our side from conception through to completion to allow that to be possible ahead of schedule.”
Tony Buchan, regional relationship director at Lloyds Bank, said: “As part of our plan to help Britain prosper, we’re committed to boosting the academic and vocational skills Coleg Cambria is developing – alongside more than 1,000 employer partners.
“We’ve seen first-hand the entrepreneurial spirit among the college’ student base so it’s a real privilege to support the development of a modern campus that will help them pursue their future ambitions beyond education.”