South Wales retail and leisure group Leekes secures new finance package

Family-owned business Leekes Retail & Leisure Group, which celebrates its 125th year in 2022, has agreed a new bank finance package split equally between HSBC UK and Barclays.

The funding is earmarked to support growth plans across the fourth-generation family business’ divisions: Leekes Retail, the Vale Resort, Hensol Castle Distillery, and its property arm.

The group continues to invest across all areas of its operations, with short-term priorities including the £12m renovation of Leekes Retail’s longest-standing department store in Llantrisant, South Wales which is currently underway.

In addition, £5m of the funding will contribute to the development of new residential homes in the grounds of the Vale Resort. The 650-acre Vale Resort contains the four-star 143-bedroom hotel, 3,000-member leisure club and spa, two championship golf courses, the Hensol Castle, a hotel, wedding, and events venue, and is the home of the Welsh rugby and football national teams, who utilise the elite sporting facilities on the site.

A total of 16 luxury houses and mews cottages will be constructed in land adjacent to the listed Hensol Castle, which has recently opened its newly renovated bedrooms.

Mike Fowler, Group Finance Director at Leekes Retail Leisure & Property Group, said: “Leekes Retail business received its first business loan from HSBC UK and banked with them for many years. We’re delighted to resume this relationship with HSBC UK who will provide our finance package alongside Barclays.

“We were pleased that the Relationship Directors from both banks, Simon Williams at HSBC UK and Sam Cole at Barclays, understood our needs from the start and have collectively developed a proposal to support our long-term growth strategy.”

Warren Lewis, Head of Corporate Banking in Wales at HSBC UK, commented: “We’re pleased to be working on the continued expansion of such an important and iconic family business. After recent success with acquisitions in both the leisure and retail sectors, we’re confident that the Leekes Retail & Leisure Group will continue to flourish in 2022 and beyond.”