Investment of over £11m from Development Bank of Wales to fund 141 new homes in Connah’s Quay
The Development Bank of Wales and Housing Growth Partnership (HGP) have jointly invested £14.4 million in a residential project in Connah’s Quay.
The collaboration with regional housebuilder Edwards Homes will deliver 141 new homes, including 49 affordable units.
The Development Bank of Wales has committed £11.7 million via its Wales Stalled Sites Fund, marking its largest-ever single property investment.
HGP, a Lloyds-backed equity investor in the UK Living sector, has added £2.7 million in equity to the project.
Plans for the development on 5.2 hectares of land off Highmere Drive in Connah’s Quay were approved by Flintshire Council in June 2023.
The development will consist of two-, three-, and four-bedroom homes, including 49 affordable units that will be sold to North Wales Housing Association.
A financial contribution will also be made towards expanding local primary school capacity and improving recreational spaces in the area.
Neil Edwards, Managing Director at Edwards Homes, said:
“Edwards Homes Ltd is pleased to be partnering with Housing Growth Partnership for the first time. We are also delighted to be collaborating with Development Bank of Wales again, whom we have worked with on previous projects and who continue to support Edwards Homes on this 141-unit development in Connah’s Quay. This is a fantastic opportunity for us to continue to expand and grow throughout North Wales and the North West of England.
“We believe that we are one of the first developers that Housing Growth Partnership has collaborated with in Wales, and we look forward to bringing this scheme forward together.
“With further schemes in the pipeline, we are looking to grow our partnership with Housing Growth Partnership and Development Bank of Wales further in the future by providing much-needed homes and affordable housing.”
Claire Sedgwick, Deputy Fund Manager at the Development Bank of Wales, said:
“This development will provide much-needed homes in Flintshire. Our property funds help independent developers make a big impact in Wales, and we’re proud to work with Edwards Homes and HGP on this significant project.”
HGP’s John McKeon, Investment Director, highlighted the importance of the investment:
“This transaction reflects HGP’s ability to drive community regeneration across the UK. We’re excited to see Edwards Homes deliver much-needed private and affordable housing and look forward to future collaborations.”
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