Residential schemes buoyed by funding

Work is progressing on two new residential property sites in Carmarthenshire and Powys with the development of 33 new homes.Haywood Homes has secured an investment of £3m from the Development Bank of Wales for its Llys Tirnant site in Tycroes, Ammanford, Carmarthenshire.The 17-unit site is progressing in line with government guidelines on Covid-19 with a mixture of three and four bedroom detached properties, including a number of bungalows.An initial £1.3m loan has also been provided by the development bank for new home developer Sotero, which has enabled the start of work at ‘Drovers Meadow’ in Bronllys, Powys.With consent to build 16 three and four and five bedroom properties, the Development Bank of Wales will release a further £2.3m during the 14-month build programme.The Wales Property Fund is financed entirely by Welsh Government with the Development Bank of Wales having invested £24m in property deals in 2018/19 to part-fund 320 housing units and 8,690 square feet of commercial space.