"We have embarked on an aggressive development programme which includes a number of high-profile, prestigious projects," said Atlantic managing director Peter James.

"Our agreement with Julian Hodge Bank Commercial - with whom we have a long standing and successful relationship - enables us to finance these and other projects without seeking specific funding for each."

Cardiff-based Atlantic Property Developments is a family-owned business founded in 1988 by Peter Thomas and the company's current development activity has a capital value of £100 million.

This includes two schemes in Cardiff already funded by Julian Hodge Bank Commercial - a refurbishment project in Cathedral Road and construction of 14 apartments in Pontcanna. One of Atlantic's biggest is in Peter Thomas's home town, Merthyr, where a new £25 million leisure and commercial development is being built in the town centre.

Some of the cash raised through Julian Hodge Bank Commercial will be spent at Atlantic's Llandarcy urban village project. This £37 million scheme on the outskirts of Swansea will transform a disused oil refinery over the next 25 years to provide 2,500 homes and create some 3,000 jobs.

In launching the urban village project, Welsh Assembly Government economic development minister Andrew Davies described it as 'an exemplar for other developers.' Phase one is a joint venture with Edward Ware Homes and the construction of 196 homes at Coed Darcy is underway.

The urban village aims to develop a community where people, not cars, take precedence. It has already caught the eye of the Prince of Wales, whose Foundation aims to connect the 'art of building with the making of a community.'

For Julian Hodge Bank Commercial which last year wrote over £120 million in new business and returned record profits, 2007 get underway with a near-record lend. "There was uncertainty in the market at the turn of the year with some developers forced to delay decision making," reports commercial director Peter Stoneman.

"Things appear more settled now and we are seeing the wraps come off development opportunities in Wales and elsewhere as confidence returns to the market.

"Atlantic is one of our largest partners and one of the most successful developers in the UK. The Merthyr scheme and its plans for the Llandarcy site are two examples of the scale of its operations, for which it is attracting widespread acclaim," said Mr Stoneman.

Julian Hodge Bank website

It follows a decision by Merthyr Tydfil County Borough Council to appoint South Wales-based Atlantic Property Development Plc to develop the £25m scheme on the site of the existing Rhydycar Leisure Centre.

Centrepiece of the development will be one of the UK's most well-equipped leisure centres, a 100,000 sq ft-plus complex that will replace the existing outdated leisure centre and be ready for use in Spring, 2008.

The Merthyr Council/Atlantic Property leisure park will also include:

• A state-of-the-art nine screen cinema with a 2,500 sq ft restaurant;
• A 16-lane ten pin bowling complex;
• A 58-bedroom hotel;
• A family public house, restaurants and cafés;
• A skateboard park and a childrens' play area;
• 18 town houses and six apartments; and
• Car parking spaces will be available for 759 cars together with new links to public transport.

Landscaping plans are also in place to incorporate links with the Taff Trail route from the complex and the Town Centre.

Peter Thomas, Chairman and founder of Atlantic Property Developments, said, "As a son of Merthyr, I am delighted that our company was chosen to deliver this much-needed addition to the town's leisure and commercial fabric.

"Provision of modern sports and leisure facilities are essential if we are to help address may of the issues faced by communities such as Merthyr.

"Here, the local authority has had the vision to identify a method to provide a superb new leisure complex together with other public facilities, underpinned by an attractive commercial element."

Atlantic will complete the construction of the new leisure centre before the existing facility is demolished. Work on other elements will begin following completion of the detailed planning process later this month.

The new centre will feature 3 pools - including a flagship 25 metre, 6 lane swimming pool, a large main hall of similar size to the one currently provided, with an adjacent multi-purpose hall, 3 squash courts, a 50 station fitness suite with a separate 'free weight' area and a health suite including sauna, steam, jacuzzi and a relaxation area.

Council Leader Councillor Harvey Jones said, "Since the publication of the Council's plans for a state-of-the-art leisure complex at Rhydycar, the authority has received overwhelming support from members of the public to our proposals for this site.

"We have made rapid progress since agreeing the preferred developer status with Atlantic. The opportunity of a multi-million pound leisure development, planned for all residents of our County Borough, only presents itself once in a lifetime; there won't be a second chance. We have therefore seized this opportunity to provide super leisure facilities fit for the 21st century.

"We are pleased to welcome Atlantic Property Development on board for a major project that promises to be a beacon of prosperity in our ever-improving County Borough."

The construction contract has been awarded to Kier Western; while other professional advisers include: EJ Hales (letting agents); Hing & Jones (architects), Bay Associates (structural), Faber Maunsell (M & E) and Edmond Shipway (QS and project management). Funding support is being provided by Allied Irish Bank.

The scheme borders the new Welsh Assembly Government's new 60,000 sq ft regional headquarters office building.

A competition will be held in the next few weeks among local schools to find a new name for the development.

The 450,000sq ft scheme, developed over a seven year period, was over 90% let with a strong retail element complementing its wide range of restaurants, bars and other leisure element facilities.

In 2003 Atlantic Property Developments plc also raised £26m from the sale of its investment in Valegate Retail Park in Cardiff.

Managing director of Atlantic Properties, Peter James, said that as a property development company its joint venture stake in Festival Park was never viewed as a long-term strategy.

He added, "We specialise in developing properties and then selling to the investment market. Festival Park has proven to be extremely popular since opening October 2002. It will prove very profitable for the new investors."

2004
Festival Park Mallorca is winner of the Property Week best mixed-use leisure scheme in Europe award, and runner up for the best and most prestigious amusement and leisure centre in Europe.