The Development Bank of Wales and Housing Growth Partnership have provided Edwards Homes more than £14m in funding to deliver a residential development in Connah’s Quay, north Wales.
The Development Bank of Wales’ £11.7m loan for the project came via the Wales Stalled Sites Fund, with HGP committing a further £2.7m.
Located on the western edge of the town, the development will comprise 141 two-, three- and four-bed houses for sale, including 49 affordable homes that will be sold to North Wales Housing Association.
The loan from the Development Bank of Wales is one of the largest single investments made by the bank, which in 2023/24 invested more than £125m into 430 businesses across Wales.
John McKeon, investment director at HGP, said: “This transaction continues our strong investment levels in 2024, reflecting the important role that HGP equity funding can play in bringing forward new schemes and the regeneration of communities across the UK.”
Claire Sedgwick, deputy fund manager at the Development Bank of Wales, said: “Our property funds are here to support independent developers in making a big impact in Wales, and can work with them at any stage of development. In the last five years, we have invested £212m in the property development sector in Wales, helping to build new homes and commercial premises across Wales.
“It made perfect sense for us to join the Housing Growth Partnership in supporting development on this important project, with investment led by our team based in north Wales and we look forward to its successful completion.”
Image from Edwards Homes
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