South Wales-based developer Richard Hayward Properties is poised to start work on the redevelopment of the old Delilahs nightclub in Newport city centre to create a 60-bedroom Premier Inn hotel - just as soon as it gets confirmation of a long-awaited grant from the Welsh Assembly.

It is anticipated that the £750,000 grant will soon be finalised following a positive official report on the proposed development.

Richard Hayward has already undertaken significant preparatory works on the Grade II listed building, including clearing asbestos, and now just needs the nod from the Assembly.

The Whitbread-owned hotel chain, which has more than 660 hotels across the UK and Ireland, bought the building opposite the city’s railway station a number of years ago. Richard Hayward Properties was appointed as developer last year.

The regeneration project was originally awarded a grant under the £55m Regeneration Investment Fund for Wales programme which was set up in 2009 but suspended early in 2013 pending two different investigations into its operations.

As a result, Richard Hayward Properties has had to reapply for the promised funding to get this important project off the ground.

It is anticipated that about 100 people will be employed during the redevelopment of the building.

The new hotel will be in a prominent position within the city centre, close to the recently redeveloped market and just a short distance away from the new Admiral building, which when full will house more than 1,000 workers. Subject to the grant being confirmed it could be completed in the Summer 2015.