A developer has sold a prime residential site in Wrexham to a housing association for £3.5m.
Bearmont Capital (Rhyl) Ltd, part of the Bearmont Group, controlled by business entrepreneur Rob Lloyd and former Channel 4’s Secret Millionaire, has completed the sale of the 17.5 acre site located in Acrefair.
The former Air Products site has planning permission secured for 232 homes.
Bearmont, based in Llandudno, approached ClwydAlyn who it already had an existing relationship with - having previously sold the housing association a site for 52 units in Llangefni.
Rob Lloyd, CEO of Bearmont Capital, said: “We’re thrilled to have agreed this important sale, which will provide quality new affordable homes to the area.
"It was a pleasure working with the housing association in achieving everyone’s wants, needs and aspirations.
“We remain very active in a number of sectors, with a particular interest in retail where we are the delivery partner for Sense Charity. We completed 10 deals last year - most of which were in town centres - developing Charity shops across Wales with the exception of the highly recognised Knightsbridge House Boutique in Llandudno and a shopping Centre in Wrexham.
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“We are an ambitious and fast growing group of companies that is diverse in what we do. We are involved in retail town centre shop units helping to revitalise towns, also other divisions include house building, care development, land assembly and commercial development.
“We are well funded and are looking to expand this year as we have identified opportunities at discounted values.”
Craig Sparrow, executive director of Development of ClwydAlyn Housing based in St Asaph, said: “We have been pleased to work with Bearmont Homes for the acquisition of this large brown field site for future development. In bringing this site to our organisation it has helped secure our ambition for growth in our development programme.”
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