Development coming to Abergavenny receives £5m in funding from Principality.

Principality Commercial has provided £5m in funding to support a new open market and affordable housing development coming to Abergavenny.

The Grove, based in Llanfoist village on the outskirts of Abergavenny, is a 106 home development, constructed by Candleston, a subsidiary of Melin Homes housing association. The development will provide 69 homes for open market sale and eligible for Help to Buy Wales and 37 homes as affordable housing for local communities. Finished to a modern and high quality standard, the housing will range from two to five bedroom properties, with terraced, semi-detached and detached housing available. Prices for open market homes start at £165,000.

As the commercial lending arm of Wales largest building society, Principality Commercial provides development and investment funding for residential and commercial properties in Wales and England. The Society has shown its commitment to supporting the delivery of affordable housing for communities, investing £97m since 2019 into affordable housing schemes in Wales.

Jan Quarrington, Social Housing Manager, Principality Commercial said:

‘’We’re delighted to be supporting Candleston’s new development in Abergavenny. As a member-owned organisation, helping people to prosper in their homes is at the heart of what we do, and The Grove supports just that, providing new affordable and open market homes for communities in Abergavenny and south east Wales.’’

Scott Rooks, Commercial Director, Candleston Homes said:

“Working closely with Principality has helped secure this exciting new development for us. It is great to be working with a funding partner that has the same ethos of generating homes and building communities. We are excited to see this development flourish and look forward to seeing families move into their new homes over the next few months.”

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