Assetz Capital have provided a £1.2m development loan to experienced developer CJC Estates to build four high end homes in Aberdare, South Wales.
Located in the village of Llwydcoed, one mile north of Aberdare, the developer plans to construct four, four-bed detached residential dwellings on a plot of land acquired in 2019. The properties are already in high demand with the local market as only 14% of recent property sales were for detached houses, and there is significant stock of terraced housing in the region.
The local developer, who has been operating for around 10 years, has completed over 40 similar projects, with five separate ground-up projects in Aberdare.
Assetz Capital has sought to support SME property developers with this type of funding for number of years, and its offering is geared towards helping to solve the UK housing crisis by stimulating house building of this kind.
Paul Williams, relationship director at Assetz Capital based in South Wales, said: “It’s great to be supporting a high-quality SME property developer with another key housing development in a fantastic location.
“There is clearly demand for these types of property in the local market, so it’s pleasing to be able to help with that.”
Christopher Cousins, owner of CJC Estates, added: “It has been great to work with Paul and Tony of Assetz Capital who were introduced to me by my broker Neil McDonagh of Harlech Commercial Finance.
“The funding process was straight forward and well-coordinated. This is my first time using commercial finance and I hope to build a successful long-term relationship with Assetz Capital and hopefully work alongside each other on my upcoming developments.”
