First homes sold at eco-friendly Carmarthenshire development backed by £3.27m loan
First homes sold at eco-friendly Carmarthenshire development backed by £3.27m loan
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Work is nearing completion on a £3.27 million eco-friendly housing development in Carmarthenshire, where the first homes in the second phase have already sold off-plan.
New Generation Developments Ltd is behind the 24 three-bedroom bungalows at Park View Drive in Kidwelly. The company has financed the latest stage of the project with support from the Development Bank of Wales, including funding through its Green Development Incentive.
Overlooking the Gwendraeth Fawr and Carmarthen Bay, the single-storey homes are designed with sustainability in mind. Each property features an air-source heat pump and is expected to achieve an EPC-A rating. Four of the homes in the second phase have already been reserved, with further interest from buyers across the UK.
Neil Dodd, Director at New Generation Developments, said: “Properties like ours are in demand as older owners look to downsize, and we’ve had interest in the homes from potential buyers from across the UK. I’m very pleased that we’ve been able to sell our first four bungalows off-plan.
“The support we had from the Development Bank of Wales helped us to progress the development with confidence and their backing was invaluable.”
Rob Good and Brad Thatcher, Property Development Executives at the Development Bank of Wales, added: “New Generation Developments are building homes which are increasingly popular with retiring homeowners, providing much-needed smaller homes in a growing community in a beautiful part of Wales.
“We’re glad that our loan was able to support them with financing and progressing the project, and it’s excellent that people have already started to make their new home here.”
The Development Bank of Wales offers property development finance ranging from £150,000 to £10 million through funds such as the Wales Commercial Property Fund, Wales Residential Property Fund, and its Green Development Incentive.
Owned by the Welsh Government, the Development Bank supports businesses and communities across Wales through loans and equity investment. Since its launch in 2017, it has invested £959 million in SMEs and property developers and now manages £2 billion in funds. In 2024/25 alone, it provided £152 million in debt and equity funding, helping more than 500 businesses to create and safeguard over 6,000 jobs.
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