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A 6 MILLION investment in Penarth's sea front could give a new lease of life to the struggling beauty spot.
Decourcy Ltd, the same Bristol-based company redeveloping the former public swimming baths, has bought Beachcliff - the stretch of premises housing the Rabaiotti caf, the Chinese restaurant and Chandlers bar and restaurant.
The company has submitted a planning application to gut the existing structures, which are not listed buildings and have no restrictions upon them, and start from scratch.
Decourcy director Steve Fear is excited by the plans.
He said: "This is a massive investment."
"Decourcy and our architect John Wotton have been working closely with the Vale of Glamorgan Council's planning and highways departments to find a solution acceptable to all.
"With the current state of disrepair, we can't refurbish the existing buildings.
"And with new regulations there's no way we'd be able to use the restaurants with the facilities where they are now.
"We have to completely redesign the whole stretch.
He added: "The buildings are in a conservation area so we've been working with Cadw to draw up sympathetic plans and we're pleased with the results."
"If they are approved and everything goes to schedule, we'll be on site just after Christmas this year, with a target of completing by spring 2007 at the latest."
Mr Fear said he has already received offers of interest from companies keen to move into the area.
He said: "I want to invest in this area because I think it's worth it."
"And I want to work with the people in the town to make sure what's done here benefits everyone.
"To that extent, I am open to answer questions people may have about the development."
But the businessman offered a stark word of warning.
He said: "This is an extremely costly venture."
"If the people in Penarth oppose it just because it means change, I will abandon it.
"I'll find whatever tenants I can to fill the properties, but they will not be the companies who have already expressed an interest in the development.
"And I know through talking to businesses already here, especially the Rabaiottis, that they could take their shops from the town and move to Cardiff Bay."
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