PROPERTY NEWS Our pick of the most interesting stories on the scene

PROPERTY PLACES TO LIVE, WORK AND PLAY

Down by the bay: Bayscape Living provides luxury apartments on fl exible terms

Novello Law’s Talia Atkins Financing deal THAT’LL BE THE BAY Novello Law has completed a landmark fi nancing deal for the Bayscape Group of companies in a multi-million-pound deal. The fi nancing facilitated the transfer of the fi nal 27 apartments in the Bayscape Phase I development from Bayscape Ltd to its Bayscape Residential sister companies, and marks the launch of Bayscape Living, a new private rented sector scheme at Cardiff Marina.

Bayscape Living provides luxury apartments on fl exible terms, along with lifestyle services including a concierge, a private roof garden as well as benefi ts with local businesses, wellness instructors and events from movie nights to barbecue evenings.

The fi nancing was secured with lenders Hampshire Trust Bank, Interbay Funding Limited, Just Cashfl ow and Hambros Secured Lending.

Novello Law acted for Bayscape Ltd and led the transaction, with Talia Atkins, partner and head of commercial property, assisted by Rhoslyn Baker. Berry Smith LLP acted for Bayscape’s sister companies.

“Completing this complex refi nancing with multiple lenders and thirdparty involvement during these challenging times is a testament to our core philosophy of partner engagement with clients and fl exibility,” says Talia.

Christopher Odling-Smee, director at Bayscape adds, “We are delighted to complete this fi nancing deal which marks the last step in the transition of Bayscape from developer to residential landlord and the launch of the Bayscape Living brand. The take-up has been excellent with all apartments let at completion. The team at Novello Law has been instrumental in coordinating and driving the transaction forward. We look forward to the development of Bayscape Phase II under the Bayscape Living brand and with the assistance of Novello Law.” For more: www.bayscapeliving.com

Build it and they will come: CCR will provide homes for all the region

Development THE NEXT STEP

The second phase of the development of Cae St Fagans at Plasdŵr has just been launched and will deliver a range of two- three- and four-bedroom homes near Cardiff. Plasdŵr – which has two other developments in addition to Cae St Fagans – is creating a community within a delightful country park setting, far from the congestion of the city, yet within easy commuting distance. A huge amount of planning and investment is going into Plasdŵr, including £40m for education and over £27m for transport improvements, to create a vibrant, self-contained and sustainable garden city designed around the needs of its residents both now and in the future. For more: www.plasdwr.co.uk

Cae St Fagans sitting pretty Investment HOME FREE A new £45m Cardiff Capital Region (CCR) Investment Fund is set to unlock stalled housing sites for a development.

The fund has been launched to help stimulate the housing market in areas where there has been little new housing development. Called ‘Homes for all the Region,’ it is intended to deliver 2,800 new homes across the region’s 10 local authority areas.

The fund is divided into two sub-funds: a Housing Viability Gap Fund of £35m, and an SME Finance Fund of £10m. CBRE’s Investment Advisory team, part of Capital Advisors, will support the CCR in managing the Fund.

“The housing viability gap funding is an investment requirement that has been needed for some time to unlock allocated residential sites across the region to assist with the delivery of new homes,” says Nicola Somerville, CCR’s head of inclusive growth and business development. “But the funds are not only about delivering new houses. For us, it is about the creation of new communities, engaging with new supply chains and providing equality of opportunity for existing residents and new, the ability to access good quality housing in an area of their choice.” For more: www.cardiffcapitalregion.wales

The prestigious awards will run on 29 January

Awards CHANGE UP

The highly-successful Cardiff Property Awards are back and with a change of date to 29 January, next year.

Nominations are now open for the awards; entry is free and any business working in the Cardiff property sector can put themselves forward. The event will be held once more at The Exchange Hotel.

Hundreds of companies are involved so far, whether as sponsors, nominees or attendees. No matter in what capacity a business takes part, this unique event is definitely not one to be missed with a room full of Cardiff’s finest leading figures.

“We are delighted to be producing the Cardiff Property Awards again,” says event organiser Annie Miekus of MediaClash. “It is more important than ever that companies come together to celebrate excellence and generate business once more.”

The Cardiff Property Awards hosts the largest gathering of property professionals in the city.

Sponsors backing the awards are category sponsors: Cardiff Life, Marsh Commercial, Sanctuary Financial Planning, TSR Legal and Willmott Dixon. Sponsorships are now available for the January event.

All tickets are valid for the new date of 29 January. For more information on entering a nomination, and to find out more about tickets, see the website. For more: www.cardiffpropertyawards. co.uk

A CGI of what will be...

Coming soon LISVANE LUXE Work to prepare land in one of Cardiff ’s most sought-after neighbourhoods for luxurious new homes is now underway. Magor-based Edenstone Homes has acquired a four-acre site, south of Lisvane Road. The land already benefi tted from planning consent, but the independent homebuilder made some minor amends to the plans.

Groundworkers are now on site carrying out preparatory work and will soon be laying the foundations for the properties.

The fi rst homes at the development, known as Beaufort Gardens, are due to be released for sale next month. Along with 35 new homes, in a choice of four- and fi ve-bedroom designs, the development will also bring investment of almost £200,000 to the local area.

“CF14 is one of Cardiff ’s most sought-after postcodes, and when it comes to location, it doesn’t get much better than this part of Lisvane,” says Martin Taylor, managing director of Edenstone Homes. “Our exclusive collection of detached family homes will enjoy an unrivalled position in the heart of the village and on the edge of mature woodland.” For more: www.edenstonehomes.com

HOUSE RULES James Thomas of SAVILLS CARDIFF “The uncertain economic backdrop and the fi nishing of the furlough scheme at the end of October means short-term price expectations remain cautious, though buyers are willing to take a longer-term view on pricing. That is underpinning activity across the prime markets. “Many predicted that the immediate shift in priorities seen in April was just a response to lockdown, and would be short-lived, but Savills’ latest major survey highlights greater commitment from people to make real changes. “Buyer determination to avoid compromise on lifestyle factors has intensifi ed over the summer, boosting the appeal for a more rural lifestyle. Garden and outside space has become more important and there is a greater desire for separate home working spaces. “Keeping buyer and seller expectations on pricing aligned will be key to maintaining the summer momentum through the autumn and beyond.” www.savills.co.uk Home security

Safety is key

ON GUARD A nationwide campaign that raises awareness of the importance of home security is returning for another year. National Home Security Month kicks off in October.

Launched in 2013 and backed by high-profi le supporters, including lead sponsor Yale, NHSM provides advice and information on how people can keep their homes, possessions and loved ones safe.

The theme for this year’s campaign is ‘You call it home, we keep it secure’, encouraging homeowners to use trusted security products. For more: www.homesecuritymonth.com

Affordable homes GREEN LIGHT Plans to build 48 affordable apartments on City Road in Roath have been given the go ahead. Linc Cymru Housing Association, which has properties across South Wales, has been given the green light to start the redevelopment at the former Riley’s Snooker Club site. The proposals at the brownfi eld site involve the provision of a seven-storey building and a four-storey building to become residential one-bed properties alongside two commercial units.

Two local experts share their current views of the city’s property scene

www.linc-cymru.co.uk

Nigel Palmer of REDROW HOMES SOUTH WALES “Since lockdown has been eased, we have actually seen an increase in visitor numbers to our sites compared to the same period last year. It seems that home movers’ priorities have shifted to include a desire for a home with both more indoor and outdoor space. “While it is very diffi cult to predict how the market may be aff ected by the ongoing situation, it seems that the demand for quality new homes in great locations will continue, particularly as customers are still able to take advantage of extremely competitive mortgage interest rates and the Help to Buy scheme.

“We have also seen a change in how prospective buyers are viewing new homes. While we have introduced stringent rules to our working practices and social distancing throughout sites, an increased amount of our communication with customers has become virtual and we are seeing larger number of visitors having their fi rst interactions online before visiting a sales offi ce.” www.redrow.co.uk