Persimmon Homes (Wales) has exchanged contracts to build the fourth residential housing phase at Associated British Port Holdings (ABPH) Waterfront Barry site in South Wales.
Persimmon will develop a 2ha (five-acre) site at the five-year-old urban redevelopment scheme, which is jointly owned by ABPH and the Welsh Development Agency.
The development is valued at £8m, with Wales & West Housing Association putting up £1.5m of the cost and Persimmon financing the remainder. To date, the Waterfront Barry project has cost £25m.
Persimmon is the third major housebuilder after Barratt Homes and Westbury Homes to build at the 77ha (190-acre) site.
Agents for the development, Chesterton and Cooke & Arkwright, said new homes on the waterfront are selling at a rate of 6.5 per month, compared with four per month in the rest of Barry. The properties are aimed predominantly at first-time buyers and families seeking to trade up.
EGi News 03/05/01
