Mentrus Developments has started work on phase two of ‘Maes y Teirw’, a residential development of 21 eco-friendly homes on the site of a former cattle breeding centre near Carmarthen that has been part-funded by a seven-figure loan from the Development Bank of Wales.
The 2.2-acre brownfield site includes a mix of 17 five- and four-bedroom homes along with 4 three-bedroom affordable properties. All have solar panels and air source heat pumps to ensure maximum energy efficiency.
With good transport links and a range of local amenities, Maes y Teirw is proving popular with families and commuters alike. The first phase of properties is now almost complete with two having sold subject to contract. Work on phase two of the development is underway and internal fixings are expected to be completed during the winter of 2024/25.
Maes y Teirw is the first residential development for Mentrus Developments, a company set-up by Directors Matthew Watkins, Philip Mann and Richard Phillips. Matthew Watkins said: “The literal translation of Maes y Teirw is ‘The Bulls Field’ and our choice of name is important as it reflects the legacy and history of the land.
“As our first residential development, we were looking for a funding partner who knew the local area, took the time to understand our business model and could meet our timescales for development to maximise build time during the summer months. The Development Bank pulled out all the stops to ensure a quick and smooth completion. We’re very grateful for their support.”
Rob Good is a Property Development Executive with the Development Bank. He said: “We work with developers in Wales to provide the funding that they need to progress the development of good quality, sustainable and energy-efficient homes where they are most needed. With high specifications and an excellent finish, Maes y Teirw will offer buyers the opportunity to benefit from modern living surrounded by countryside close to Carmarthen town centre.”
The loan for Mentrus Developments came from the £54.5 million Wales Property Fund II. Financed entirely by Welsh Government, loans from £150,000 to £6 million are available for small and medium-sized developers based in Wales, working on residential, mixed-use and commercial development projects in Wales.
