Bishop Bayliss Developments secures a £1.2m loan from the Development Bank of Wales to finance its first new build housing project.
The funding was provided by the Development Bank of Wales to support the construction of four new homes in Merthyr Tydfil.
Bishop Bayliss Developments is a property developer that transitioned from renovation projects to new build residential construction. The company is based in the UK.
Bishop Bayliss Developments has secured a £1.2m loan from the Development Bank of Wales to finance its first new build residential project. The funding was used to acquire plots and construct four new homes on Grove Park in Merthyr Tydfil.
The development marks a strategic shift for the firm, which previously focused on property refurbishment before tackling its inaugural new build scheme. All four properties have since been sold off-plan and the loan has been fully repaid.
Monitoring services for the project were provided by RPA Quantity Surveyors.
From the founder
"We were keen to work on a new build, but it was difficult for us to find a lender that would support us."
Adam Meah
Commercial Director at Bishop Bayliss Developments
Investor perspective
"The developers have put high quality new housing on a site in need of development in a popular residential area, which has been demonstrated by the strong level of demand for the properties."
James Brennan
Property Development Executive, Development Bank of Wales
Use of funds
- 01Scale operations
- 02Build out infrastructure
Investors
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About the company
Bishop Bayliss Developments
Bishop Bayliss Developments builds residential housing properties.