Principality Commercial is proud to support sustainable, eco-friendly projects, such as this carbon negative housing development in Aberdare. The bungalow, constructed by Rosey Developments, has made use of a variety of sustainable materials to reduce it's carbon footprint.
The three bedroom residential development has a variety of environmentally friendly features, including carbon negative hempcrete walls, roof made from recycled plastic as well as making minimal use of concrete throughout the development. The property, which has been built to a high standard is set to go to market summer 2019.
The initiative supports the Welsh Government's decarbonisation strategy which aims to reduce carbon footprint in Wales by 80% by 2050.
“This was a scheme that consists of 42,000 squared feet built to an excellent standard. Two of the three building were pre-let to Tata Steel and TWI – two big international companies. The third building was fully let within a year. Principality Commercial were very understanding and the relationship throughout the project grew as it's fun to work with them on simple and complex developments. Their funding process is so much easier and straight forward compared to other lenders.”
John Leyland, Deryn Properties
Rosey Developments, an existing borrower of the Society, approached us to fund the construction of a carbon neutral bungalow unit in Aberdare as a 'proof of concept' development to confirm that this type of housing can be delivered economically. The Society provided funding secured against an existing investment portfolio which allowed us to fund 100% of the costs of the scheme, through to completion.
“What drew us to this project was two things; firstly Jon Leyland who started this project with us has been a customer with us for over 15 years and had had similar projects in the past. Secondly, this was a regeneration project – brownfield land that was converted to provide employment for the region. We’re very comfortable with long term relationships, obviously the more you deal with people the better it is. Just seeing projects from start to finish is fantastic.”
Gareth Redding, Senior Portfolio Manager at Principality Building Society
Click below to take look at some of the projects we've arranged finance for across Residential, Industrial and Affordable Housing.
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