Usk Field Llanishen

Usk Field Llanishen

Principality Commercial provided finance to assist Waterstone Homes with their development of 25 residential properties on the former Llanishen RFC site, comprising of private and affordable housing in a fantastic location close to Cardiff, with excellent transportation links.

This was the second phase of Waterstone's development, just off Usk road in Llanishen, where Principality assisted on the first phase back in 2012; we were delighted to be approached to fund the second stage of this prestigious site, comprising 20 executive and 5 affordable houses. The first phase sold well in 2012 and this second phase has been no different, with a number of houses being sold off plan; the development is now well advanced with a number of units sold and now occupied and we have been delighted with the quality that Waterstone have, yet again, put into their properties.

“Waterstone Homes have enjoyed an excellent working relationship with Principality Commercial for many years and have successfully delivered countless schemes together. They really understand property development and always work with us to find solutions to the ever changing challenges of our industry. They have played a critical part in the growth of Waterstone Homes and success over the last decade and continue to be a key part of our team moving forward."

Simon Jehu, Managing Director of Development at Waterstone Homes Limited

The solution

The properties will be a mixture of detached and semi-detached executive family homes plus 5 affordable units, all constructed to the usual high specification by Waterstone Homes who have a very strong presence throughout South Wales and have built up an enviable reputation for constructing quality housing.

We assisted on the back of numerous, successful, residential developments, including a 13-apartment development in Tenby, an 18-unit site at Derwen Fawr, Swansea, 20 houses at Ogmore-by-Sea, plus many others and we have built a strong relationship between our firms.

“What attracted us to this site was the strong location and the knowledge and experience that the directors of Waterstone bring to each and every development they undertake. They build homes with the individual occupier in mind, they really fit into the society's ethos of where home matters and they are proud to add their name to every development they undertake.

Our relationship with Waterstone remains very strong; I am proud that, together, we build properties where we are helping people into their own homes in this instance in South Wales. I hope that the relationship continues to grow and that we can undertake further developments in the future."

Gareth Redding, Senior Portfolio Manager at Principality Commercial 

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