A new development in the Neath area - do you know where it is?

The answer is in this Press Release:

Neath Development Proving Investment Hotspot

A huge new development on the outskirts of Neath is proving popular with savvy investors.

Persimmon Homes West Wales says that independent landlords are seeing the profit potential in the builder’s two-bedroom houses, which can bring in around £500pcm in rent.

Persimmon is one of the housebuilders involved in the £1.2bn Coed Darcy project, which will see 4,000 new homes, school s and shops built on the former Llandarcy oil refinery site off the M4.

Sharon Robinson, sales director at Persimmon Homes West Wales, said the development had proved popular with a wide range of people, including families, first time buyers and investors.

Sharon said: “We have made a number of sales to investors who can still see profit in renting despite changes to buy-to-let Stamp Duty earlier in the year.

“The two-bedroom properties have been particularly popular with landlords as they can be bought for less than £130,000 and produce a good return.

“There are not many new two-bed properties elsewhere in Neath. Much of what is currently on the market is older and terraced, which is often unattractive to an investor as they need a lot of work and the bills are high.

“As well as investors, we have seen huge interest from first time buyers due to the affordability of the properties, as well as families. It’s already a lovely area for families and that will only improve as the development progresses.”

Persimmon Homes is building just over 300 of the houses at Coed Darcy. The Swansea-based builder has already completed around 90 per cent of the properties, with just 30 left to be built and sold.

Sharon added: “Coed Darcy is a fantastic scheme, creating a brand new, vibrant community between Neath and Swansea. We’re proud to be playing a major role the regeneration of the area.

“This has been a long-term project for us and we are now nearing the end. We still have some two-beds available as well as four-bed townhouses. A selection of three-beds are expected to be released for sale early next year.

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