Press Release Summary = Landlord Dave Wells is celebrating the opening of 40 new flats in Bournemouth
Press Release Body = The First in a series of major developments on the South Coast by landlord Dave Wells to be funded by a £70million bank loan has opened.
It was in the nick of time for new tenants and mums Chelsea Harris and Megan May whose newborn babies Charlie and Felicity arrived just days ago.
The project in Methuen Close, Springbourne which cost £2.7million, brings 40 extra units of affordable housing to Bournemouth.
Managing director of Dave Wells Properties Steve Wells said: "I'm aware there is concern about the number of flats being built locally but at the end of the day there is demand - people need somewhere to live.
"It's much better to infill existing built-up areas than to erect new homes in the greenbelt.
The site, formerly a detached house divided into two flats, has been owned by Dave Wells Properties since 1997 and its demolition was put on hold until the existing tenant was ready to move. It now consists of 17 one-bed flats and 23 two-bed flats.
The work was completed by Glossbrook Builders and Bournemouth Mayor Cllr Anne Filer carried out the grand opening.
She said: "It's a beautiful development and a great asset in an area that was previously scrubland. People are always criticising flat developments but this one is an airy, happy environment for families who would otherwise be living in difficult circumstances. Unlike other developments, it has plenty of outside amenity space."
Dave Wells Properties owns more than 400 homes in Dorset and Hampshire and, thanks to a £70million loan from Barclays Bank spearheaded by accountants Princecroft Willis, has a further 200 currently under construction.
"The loan has enabled us to move the business into a new league. With the market becoming increasingly hostile for first time buyers there is more demand than ever for good quality rental accommodation," Steve added.
The firm has already started work on a second development to bring 14 new flats to a neighbouring site in Methuen Close.
2025
