New Generation Developments Ltd (NGD), a Pontprennau, Cardiff based construction company, has secured a £1.7m funding partnership after collaborating with Assetz Capital
Neil Dodd and Grant Lloyd, directors at NGD, both with a wealth of experience in the commercial property sector, decided to take a leap of faith after surveying the land and location of their current development and went on to create the business in 2020, which services the residential housebuilding sector. The Old Mill, Park View at Kidwelly is valued at over £6.5m.
With the support of Tony Kear at Assetz Capital, Tony commented:
‘Assetz Capital exist to support SME housebuilders and developer with funding and this project aligns with our ethos. We aim to keep tackling the UK housing crisis so it’s important that we keep supporting projects like this through high quality SME developers.’
Please listen below to hear more from director Neil Dodd:
Set in the beautiful town of Kidwelly, West Wales, the “The Old Mill” development comprises of 24 three-bedroom detached bungalows with garages. The location is perfect as it benefits from a variety of amenities, including an all-important train station, as the way we work, and travel is set to greatly influence our future developments.
It is common practice to build houses and not bungalows as they are often seen as a negative by developers who are primarily pressurized to build upwards, this is due to soaring land prices. However, Neil and Grant finalized their due diligence working closely with their planners and design team, consisting of Spring Design and Coastlands Architecture, the team produced a proposal that was a perfect fit for the area. The development has the added benefit of all plots being for private residential sale. This has placed them in a well-respected position for their first development being a huge success.
NGD released Phase One in early summer 2021 via The Greenroom Estate Agency in Mumbles, which is run by Founder and Director, Nick Christofides, who has successfully sold all nine homes, with completions due in January 2022.
Neil and Grant commented,
“We fully understand that we influence the movement in the marketplace, it becomes incredibly important part to evolve our business while effecting the local economy. It may only be 24 homes, however, 24 homes on the secondhand market have been released for families to utilize”. They go on to say “Understanding the market requirement is fundamental, even more so considering the UK’s cultural and economic shifts. The industry is challenging developers to go that extra mile with regards to CO2 reduction, embracing change helps drive our business model forward, having a USP for small builders like ourselves is important’’
Reflecting on the company’s hopes for the future goals. New Generation Developments motivation is to build quality developments that are not only good to live in but are also sympathetic to the local environment. It’s all about people, building trusted relationships with client’s, supply chain and contractors, whilst committing to engage with local quality tradespeople, to construct quality homes in their locality. NGD believes that investing into building a team of local quality tradespeople is key for their journey as company, meeting market demands and achieving client satisfaction, is the very reason behind NGD’s existence.