Principality Commercial finances regeneration of historic development
James Ford, Relationship Manager at Principality Commercial, Mehrdad Chegounchei, Director at Cardiff Bay Estates and Martin Grindell, Director at Cardiff Bay Estates.
PRINCIPALITY COMMERCIAL has provided financing for the redevelopment of an historic building in Cardiff Bay.
Developed by Cardiff Bay Estates, Marine House has been regenerated to provide 13 stylish one bed apartments for first time buyers in the community. Set in a Grade II listed building, the redevelopment has combined both the classical features of the building with modern design, ensuring both the character of the building remains while providing a contemporary living space. The regeneration of Marine House began after the building was highlighted in the ‘Buildings at Risk’ survey in 2011. The building’s original features, including the main staircase, Victorian windows and exterior, have been repaired to ensure the character of the building has been kept intact. Marine House’s history dates back to 1857 where the building served as residential property for sailors, at the heart of Tiger Bay’s trade history.
The apartments, which are priced to support the first time buyer market by qualifying under the Help to Buy Wales scheme, have already proved popular. To date, 10 of the 13 apartments have been reserved, with the development expected to complete by November 2019.
James Ford, Relationship Manager at Principality Building Society, said: “We’re proud to be supporting Cardiff Bay Estates - a long standing customer who is enabling the regeneration of an unoccupied building to provide high standard homes to first time buyers. Their attention to detail is evident from the product they are bringing to market, ensuring the character of this period building remains intact.”
Mehrdad Chegounchei, Director at Cardiff Bay Estates, said: “We are immensely proud of the Marine House development. We have been meticulous in ensuring we have kept as many classical features as possible, including the shell stuccos which are unique to this building. This makes it a really desirable development.” Martin Grindell, Director at Cardiff Bay Estates, added: “We’d like to thank Principality Commercial for the support they have provided to us – we have been most impressed with their service as a lender.”
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
- Church receives cash injection -
The congregation at a village church is singing songs of celebration after bagging a £950 grant from a leading housebuilder. St. Ellteryn’s church in Llanilltern Village has received the funding from Persimmon Homes East Wales. Persimmon Homes is one of the UK’s leading housebuilders with developments right across the country. Each month Persimmon donates up to £2,000 to community groups in each of its 32 geographical operating areas. This means up to £64,000 is dished out every single month – a total of £768,000 a year, and more than £2million since the scheme started back in 2015. St. Ellteryn’s Church is situated in the middle of
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the village and is used for social occasions both for church members and the wider community. The church hall has the potential to be a vibrant centre for the for the whole of the community. The £950 will go towards the renovation of the church hall where several doors are unable to open or are damaged and need replacing. Linda Davies, who applied for the funding on behalf of St. Ellteryn’s church, said: “We are very pleased with the news of the donation. “The church hall promises to be an enormous asset to both existing and future communities. We feel that the renovation can really bring the community together. “We
are extremely thankful to Persimmon
Homes East Wales.” Victoria Williams, sales director for Persimmon Homes East Wales, said: “We are delighted to support St. Ellteryn’s church with the renovation of the church hall. “The church hall has the potential to be the centre of community and really bring locals together. “The Community Champions project was formed to provide support for causes exactly like this.” Persimmon
Homes East Wales’ latest
development, The Parish @ Llanilltern Village, is now open. To find out about the range of two, three and four bedroom homes visit https://www.
persimmonhomes.com/the-parish-llanilltern- village-10707 or call 02920104075.
New Homes Wales and the South West
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