The Welsh Government and housing association Pobl Group has bought a development site which had outlined consent for a major residential and retail scheme in Pembrokeshire in a £9m-plus deal.
The site, located on St David’s Road in Haverfordwest, has been acquired the Cardiff Bay administration and Pobl Group from property developer Conygar Investment Company.
Conygar said that it has exchanged contracts on an unconditional basis to dispose of the site in a deal worth £9.65m.
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The property developer was awarded outline consent almost 10 years ago for 729 residential units and 90,000 sq ft of retail on the 87 acres of land off Thomas Parry Way, near the town centre. Pobl aims to build hundreds of new affordable homes at the site. The development will support the goal of Wales’ biggest housing association to deliver 10,000 new energy efficient affordable homes by 2030.
Conygar said net proceeds from the sale will go to support further acquisitions of investment properties as well as “realising value from the Group’s other development projects” including the multi-million pound transformation of Holyhead waterfront in north Wales and progression of the its mixed-use development at The Island Quarter in Nottingham.
Freddie Jones, director of Conygar said “We are delighted to have agreed the sale of Haverfordwest, as part of our plan to focus our resources on those areas where we expect to see the greatest returns for our shareholders.”
To support its ambitious new homes target last month Pobl secured a new £50m funding line from Principality Building Society.
Pobl Group, which is headquartered in Newport, manages more than 18,000 homes and provides care and support to almost 17,000 people. It employs over 2,500 people. It was formed in 2016 following a merger between housing associations Seren and Gwalia.
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