A NEW £5million residential and commercial development on the site of the former Cambrian Hotel has brought new life to the centre of Saundersfoot.

Now known as Cambrian Quay, the scheme features eight town houses, five apartments and two commercial units.

All the town houses - with prices ranging from £380,000 to £410,000 - have been sold and the sea view apartments have just been released for sale.

One of the commercial units is set to be a restaurant with courtyard, and has been let to the restaurateur currently running the Harbourmaster at Milford Marina.

The new chapter in the life of ‘The Cam’ comes after its chequered history of recent years. Thirty years last October, the hotel was damaged by a massive gas explosion.

Reconstruction eventually restored the buildings, but the property stood empty for several years after it ceased trading in 2006.

The new development is by DAW (Saundersfoot) LLP, a joint venture partnership between property development company Actoris, Bridgend-based property investment firm St Brides Ltd and house builder Waterstone Homes.

Funding came from Principality Commercial, the commercial arm of Principality Building Society.

It is one of many development deals funded by the Society over the last 12 months, and Principality Commercial’s Gary Price said: “It is to the credit of the development team here that they have created an innovative and exciting scheme on a site which has lain dormant for so long.”

Added Matt Bryant from developer Actoris: “Cambrian Quay has transformed the centre of Saundersfoot and forms part of our ongoing investment into this beautiful coastal village.”