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Interest-free loans totalling £1 million are to be made to bring 12 town centre properties back into use through a Welsh Government scheme.

Caerphilly County Borough Council has been given the money from the Transforming Towns Loans programme, which supports local authorities with town and city centre regeneration projects.

Since its launch in 2014, it has allocated more than £73m and brought more than 600 properties across Wales back into use.

Councils loan the money out to projects (excluding their own) and once it has been paid back, can be loaned out again. The ambition of the scheme is for the money to be re-invested two to three times over 15 years.

Caerphilly County Borough Council applied to this latest round requesting £1m to restore 12 mixed use premises in Caerphilly, Blackwood, and Bargoed town centres.

Minister for Climate Change, Julie James, said: “With the ambition of making communities sustainable over the long-term, the programme aims to improve the quality of life, job opportunities and economic growth for the people who live and work in and around those towns.”

Caerphilly Observer has asked the council for more details regarding the 12 properties that will benefit from the loans.

Welcoming the council’s successful application to the scheme, Caerphilly Senedd Member Hefin David said: “This is very encouraging news for Caerphilly town and for Bargoed. Since I was first elected in 2016, I have campaigned for town centre regeneration in my constituency. I am pleased that this is taking another step forward with this announcement.”

The council’s deputy leader Jamie Pritchard also welcomed the said the programme is another tool to support the regeneration and development town centres.

He added: “A close working and positive relationship with the business community is important when it comes to supporting the high street.”