The Grove, Abergavenny A NEW affordable housing development coming to Abergavenny has been supported with £5m funding from Principality. The Grove, in Llanfoist village on the outskirts of Abergavenny, is a 106-home development, built by Candleston, a subsidiary of Melin Homes housing association. The development will provide 69 homes for open market sale and eligible for Help to Buy Wales, and 37 homes as affordable housing for local communities. The housing will range from two to five bedroom properties, with terraced, semi-detached and detached housing available. Prices for open market homes start at £165,000. As the commercial lending arm of Wales largest building society, Principality Commercial provides development and investment funding for residential and commercial properties in Wales and England. The Society has invested £97m since 2019 into affordable housing schemes in Wales.
Principality Building Society has appointed Richard Wales as commercial lending director.
Wales replaces Peter Hughes after he stepped down to focus on family commitments last September having spent 18 years at the building society.
Wales has worked at the lender since 2012 but prior to this he spent time at HSBC in various management roles for 20 years.
Julie-Ann Haines, chief executive at Principality Building Society, said: “Richard is an excellent appointment with his extensive banking experience, and he has great insight into the expectations of our customers having fulfilled several senior roles within Principality Commercial since joining.
“He has an exciting vision for our commercial business but he’s also acutely aware of the challenges currently faced by our clients brought about by the COVID-19 pandemic.