ao link
Twitter
Facebook
Linked In
Twitter
Facebook
Linked In

You are viewing 1 of your 1 free articles

Welsh Government announces £40m ‘stalled sites fund’ for SMEs

Welsh Government ministers have announced a £40m loan fund to help small and medium-sized (SME) builders unlock stalled sites.

Linked InTwitterFacebookeCard
Picture: Getty
Picture: Getty
Sharelines

Welsh Government announces £40m ‘stalled sites fund’ for SMEs #ukhousing

SME builders in Wales to get up to £160m in loans for stalled sites #ukhousing

The loan fund has a four-year repayment term and the Welsh Government expects it to be recycled four times over the next 17 years – meaning up to £160m will be available between now and 2035.

Rebecca Evans, housing and regeneration minister for the Welsh Government, said: “We are committed to delivering 20,000 affordable homes in Wales during this term of government, and SME builders are key to helping us achieve this.


READ MORE

Review of Welsh affordable housing policy is a great opportunityReview of Welsh affordable housing policy is a great opportunity
Welsh Government announces deal with house builders to end leasehold abuseWelsh Government announces deal with house builders to end leasehold abuse
Welsh Government announces vacant land tax plansWelsh Government announces vacant land tax plans
Welsh Government to include energy efficiency in Help to Buy mortgage calculatorWelsh Government to include energy efficiency in Help to Buy mortgage calculator

“By supporting them to develop more sites, we won’t just be supporting them to increase the supply of housing, but to grow their businesses, support more skilled jobs and contribute to the local economy.
“We know that many SMEs moved away from housebuilding following the recession 10 years ago and have not returned to development. I believe this fund can help them to do this, ensuring a diverse housing sector and more homes being built.”

Research carried out in 2015 by the Welsh Government suggested building had stopped on 7,600 homes across 400 sites in Wales for various reasons, including viability and a lack of access to funding.

The Welsh Government has a target to build 20,000 affordable homes during this Assembly term, with private builders expected to develop around 7,000 of those.

Linked InTwitterFacebookeCard
Add New Comment
You must be logged in to comment.