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St Winefride's

13/02/2014

Principality Commercial fund third phase of niche capital housing development

The third phase of a niche property development in the Welsh capital that has already attracted more than £2m worth of investment from buyers is being funded by Principality Commercial.

Construction work on St Winefride’s - The Apartments  in Cardiff’s popular Pontcanna suburb has recently begun to create a walled and gated environment of 50 one, two and three-bedroom apartments.

Carried out by award-winning Cardiff-based developers Loosemore, St Winefride’s -The Apartments is the final stage of the £20m development of the former art-deco St Winefride’s nursing home, built in 1938 in the grounds of a classic Victorian villa called The Linden’s.

The first phase of seven terraced houses  – The Terrace – sold out prior to completion last year, while the second phase of 12 three, four and five-bedroom properties – The Crescent – are  now all sold or reserved 
An off-plan pre-launch of St Winefride’s - The Apartments late last year proved to be so popular that around £2m worth of property was reserved. Work has begun on site at the Romilly Crescent development, where completion is expected this summer.

Gareth Redding, Head of the Relationship Team at Principality Commercial, the commercial arm of Principality Building Society, said: “We helped to finance the first two stages of the development at St Winefride’s which have already proved to be a great success, and this third phase looks ready to repeat that with its blend of luxury living and eco-friendly features.

“Principality Commercial continues to provide funding for numerous property transactions and housing developers like Loosemore have been a key component of this. We hope to build on this strong relationship going forward and work together to provide more homes for the people of Wales.”

David Loosemore, Managing Director of Loosemore, said: “The support from Principality Commercial has been fundamental to the success of our development. They have been instrumental in creating financial stability, ensuring that we are able to concentrate on the development side knowing that all our financial needs are covered.

St Winefride’s -The Apartments have already attracted a great deal of interest because of the history of the St Winefride’s building and its prime location in the heart of highly sought-after Pontcanna.”

For more information about St Winefride’s – The Apartments, visit www.loosemore.eu, or contact agents Jeff Hopkins (029 2034 3499) and Savills (029 2036 8930). Prices range from £160,000.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Principality Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, reference number 155998.