Upmarket property company Portabella has announced that their Laundry Quarter development in Pontcanna is already sold out more than six months ahead of completion.
The development of 34 homes comprising of 16 houses and 18 apartments was delayed in starting by six months following the onset of the COVID pandemic, with work finally getting underway in September 2020.
Portabella was supported by a well-established team of long-term collaborators including Cardiff architects CWA, construction partners Intelle Construction, with £9.5m funding provided by Principality.
David Loosemore, Managing Director at Portabella, said: “Starting construction during a pandemic was always going to bring challenges, not least with the future of the property market being somewhat unpredictable, but we spent the six months while construction was delayed fine-tuning every detail so that Laundry Quarter could be the very best it could be. There were some bumps in the road with unpredictable materials costs and supply-chain difficulties but, together with the wider team, we managed to navigate these somehow.
“We launched Laundry Quarter to the market during late 2020 when our medium of speaking to prospective buyers was entirely Zoom and were really pleased to find some people happy to commit more than 18 months ahead of completion. We look forward to delivering a product worthy of the wait.”
Laundry Quarter also includes nine retail spaces of various sizes. Portabella has already secured some soon-to-be-announced high-profile tenants with further enquiries currently being invited via Owen Cahill at retail specialists EJ Hales.
Chad Griffiths, Senior Relationship Manager at Principality Commercial, said: “We have been delighted to provide funding for our long terms clients Portabella to deliver this landmark mixed use development in the heart of Cardiff. To sell every new home off plan prior to completion is testament to Portabella’s strong reputation in delivering new homes, as well as the ongoing strength of the local housing market. We look forward to seeing the first residents move into their new homes later this year.”
