A housing development which is already seeing high interest from prospective buyers has been supported by the Development Bank of Wales with a £5 million development loan.
Work on the 21-house project at Begelly, near the popular seaside towns of Tenby and Saundersfoot, is being undertaken by developers Luckton Ltd and consists of a range of detached and semi-detached homes.
Each of the homes is designed with green energy use and energy-efficiency in mind, with forecast EPC values of more than 100 and A-grade efficiency ratings. The four houses sold to date have all achieved 100+ EPC ratings with one of the three-bedroom houses achieving an rating of 110, compared to the national average of around 65. The houses use timber-framed construction, and are heavily insulated, combining air-source heat pumps and solar panels to generate energy, and triple glazing with underfloor heating to keep the houses warm. Many design, construction and resources are provided by a number of local and regional contractors and suppliers.
Demand for houses on the site has reached high levels, with five houses already sold and a further 10 reserved off-plan. The site will also provide two affordable houses that are available exclusively to eligible residents of Pembrokeshire.
Luckton approached the Development Bank for a loan to speed up construction and streamline financing for the site. The loan is supported by the Green Homes Incentive, which is designed to support residential developers in Wales to make the change to greener development practices.
Karl Jones, Senior Property Development Executive at the Development Bank of Wales, said: “It was a pleasure to work with the team at Luckton Ltd in supporting the new development at Begelly. Part of our mission is to encourage and support the construction of green development in Wales, and this site is a fantastic example of the green energy and construction methods which are becoming increasingly popular among prospective buyers.”
Jon Chester, Commercial Director at Luckton, said: “It has been great to work the team at Development Bank to deliver the scheme at Barley Park. The Green Homes Incentive was ideal for us as it recognised the efficiency and technology of the houses we’re building, and in turn the bank funding enabled us to build more efficiently. We’re very proud of the houses at Barley Park and believe that with the help of Development Bank we have raised the bar for energy efficient homes in Pembrokeshire.”
For more information on property development loans, visit developmentbank.wales
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