£7.5m investment unlocks more than 30 new homes

Mark Mansfield

More than 30 new homes are set to be built after two housing developments secured more than £7.5 million in funding.

The money from the Development Bank of Wales will support the next phases of developments in Carmarthen and St Clears, including seven affordable homes.

Mentrus Developments has secured £1.8 million through the bank’s Wales Residential Property Fund, alongside funding from its Green Development Incentive, for the third phase of the Maes y Teirw development in Carmarthen.

Seven energy-efficient homes will be built on the 2.2-acre brownfield site, which was formerly used for industrial purposes.

A further £5.7 million will support the third phase of Solitaire Homes’ Priory Fields development in St Clears.

It will fund 24 additional homes, seven of which will be affordable. Once all three phases are completed, Priory Fields will have 76 homes.

Construction is being carried out by Obsidian Homes, which employs around 40 people in West Wales.

The Development Bank said the two projects would also provide work for local contractors, tradespeople and suppliers.

Karl Jones, Senior Property Investment Executive, and Rob Good, Property Investment Executive at the Development Bank of Wales, said: “Our role is to help unlock developments and accelerate delivery where there is clear local demand.

“Through the Wales Residential Property Fund, we’re helping experienced developers bring forward high-quality homes more quickly, supporting both community growth and long-term economic prosperity.

“These developments demonstrate how experienced Welsh developers are helping to increase housing supply while creating wider economic benefits for local communities.

“Together, the projects will deliver more than 30 new homes, support local employment and create opportunities for contractors and suppliers across Carmarthenshire.”

Philip Mann, founder and director of Mentrus Developments, said: “The continued support from the Development Bank of Wales allows us to maintain momentum at Maes y Teirw and deliver another phase of high-quality, energy-efficient homes on what was once a brownfield site.

“Our focus has always been on building homes that are designed for modern living while making the best use of previously developed land. This investment enables us to continue that vision and contribute to meeting housing demand in Carmarthenshire.”

Family business

Huw Morgan, director of Solitaire, said: “We’re delighted to be moving forward with Phase 3 at Priory Fields following the strong response to the first two phases of the development.

“As a family business based in Carmarthenshire, we’re committed to working with local contractors, tradespeople and suppliers wherever possible, ensuring that investment in new homes also benefits the wider local economy.

“The demand we’ve seen for the development demonstrates the need for high-quality new homes in the area, and this latest investment allows us to continue delivering homes for local people while supporting employment across the region.”

Since 2017, the Development Bank of Wales says it has invested £306 million to help Welsh developers build 2,304 homes.

It provides property development finance of between £150,000 and £10 million through a range of funds.

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