5 June 2019

Principality Commercial finances coastal housing development in Pembrokeshire

Principality Commercial has provided £2 million in funding towards a new coastal development in Broad Haven. Developed by Waterstone Homes, Sand Banks will provide an impressive array of 18 family homes to families in Pembrokeshire.

Overlooking the stunning Broad Haven beach, Sand Banks has already proved its popularity to the market with 9 of the 12 private houses sold to date. The high-quality development consists of 12 private and six affordable homes, with the first homes set to be completed by early autumn 2019.  

The latest project at Sand Banks affirms both Principality’s strong relationship with Waterstone Homes as well as its commitment to providing quality housing for communities across Wales.  

Gareth Redding, Senior Portfolio Manager at Principality Building Society: 

“I am proud that Principality is involved in this fantastic new residential scheme in Broad Haven. We have a long relationship with Waterstone and Broad Haven is the latest in a long line of very successful ventures. It’s also great that a third of the homes on the development are affordable, as we are committed to helping build new homes for our communities as part of the Welsh Government’s Housing Agenda.”

Andrew Lycett, Finance and Operations Director at Waterstone Homes:

“Principality has become a valued and trusted provider of development finance for our new build activities.  The relationship has developed over the years, building a strong track record of a successful partnership on our most prestigious projects. Principality has proved to be responsive and flexible, taking the time to understand our current and future business requirements.
“We are immensely proud of the quality of our developments and strongly believe in creating schemes that offer housing for all. We are looking forward to continuing to work with the Commercial team at Principality to make people’s dream homes a reality.”

Principality Building Society has recently announced the launch of a £50 million fund available for small housing developers across Wales to support the Welsh Housing Agenda. For further information, please visit www.principality.co.uk/commercial

Published: 05/06/2019