Valleys to Coast Group, a housing association, has confirmed plans to build 500 new homes through its newly established commercial development company, Sylfaen. The subsidiary has acquired a site in north-east Cardiff with planning permission for 200 homes, with potential for an additional 300 homes in future phases.
Development Details
The site, acquired from Taylor Wimpey for an undisclosed sum, will offer a mix of homes for private sale, rent, shared ownership, and affordable social housing. The first 200 homes are expected to be delivered over five years, with funding of £50m to £60m to be raised. A second phase of 300 homes is planned over the next 10 to 15 years.
Location and Features
The first phase, located near Junction 30 of the M4 at Pontprennau, will feature a variety of house types, from affordable to executive homes. The development is expected to generate an income stream of £20m for Valleys to Coast Group, providing additional revenue for improvements and maintenance of its existing 6,000 homes in the Bridgend area.
Strategic Growth
Sylfaen has been established to drive the group's ambitious growth strategy. Joanne Oak, chief executive of Valleys to Coast Group, said: "The launch of Sylfaen is a defining moment for us, and enables us to drive our growth ambitions whilst remaining truly rooted in social purpose. We’re incredibly proud to expand beyond our Bridgend heartland and into the Cardiff region as part of our ambitious growth plans. For us, this isn’t just about building new homes, it’s about creating financial stability that allows us to reinvest in our existing communities, ensuring that everyone has the support they need to thrive."
James Griffiths, managing director of Sylfaen, added: "We are thrilled to begin Sylfaen’s journey with such a landmark development. The north east Cardiff site perfectly embodies the Sylfaen philosophy, every home we build starts with a strong foundation. Building a thriving new community of this scale in the capital is an exciting challenge that demonstrates our intention to make our mark in the sector. We’re hitting the ground running to show that a commercially driven business can have a social purpose, delivering high-quality, modern homes that help people and places truly thrive."
