Assetz Capital provides £1.7m development loan to NGD
Assetz Capital has delivered a £1.7m development loan to New Generation Developments (NGD), enabling it to build nine bungalows in Kidwelly, West Wales.
More than 70% of the properties have been sold off-plan, and funding for an additional phase of development is already under discussion.
Neil Dodd, director of NGD, said: “We’re delighted to release these homes on to the market for families to utilize.
“Understanding the market requirement in light of the UK’s cultural and economic shifts is fundamental to our business.
“The industry is challenging developers to go that extra mile with regards to CO2 reduction, so we’re proud to have delivered another eco-friendly and carbon neutral development in Kidwelly.”
Tony Kear, regional relationship director of Assetz Capital, added: “Assetz Capital exists to support SME housebuilders and developers with funding and this project completely aligns with our ethos.
“We aim to keep tackling the UK housing crisis, and working with high quality SME property developers like New Generation Developments is crucial to achieving this goal.”