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Cwm Calon housing gold mine.

One and two-bedroom properties near Caerphilly have been targeted by first-time buyers and investors in a blitz of sales at Redrow's Cwm Calon.

More than 300 people turned up to the launch of sales at Cwm Calon, a development on the site of the former Penalta colliery near Ystrad Mynach, now undergoing a pounds 16m transformation in one of the biggest-ever regeneration projects in Wales. And 28 out of 50 properties released for sale were snapped up within hours - with a further seven sales in the following days boosting the total to 35.

Around 900 people had already registered their interest in Cwm Calon - before any details of house types, floor plans or prices had been released, prompting the early launch of a marketing suite to accommodate the abundance of early inquiries.

Annette Gregory, area sales manager for Redrow Homes (South Wales), said, 'We've had a phenomenal start. More than 300 people visited our marketing suite when we launched sales and the one and two-bedroom apartments and two-bedroom houses sold like hotcakes. This is because they are within easy reach of first-time buyers, as well as being an attractive option for investors, who are thinking ahead to the new hospital and police station being built on this site and potential rental incomes that could be gained in the future from these employees.

'Cwm Calon will also incorporate a school, employment and recreation facilities, making it much more than just a new housing development. We will be creating a vibrant urban village that will set a blueprint for the overall redevelopment of the Ystrad Mynach area.'

Redrow has some 600 properties planned for Cwm Calon, but for now, only a handful of three and four-bedroom homes are for sale. These include the three-bedroom Malham, priced from pounds 164,500, the Hardwick, from pounds 156,000 and the Fairwood, from pounds 129,000 and, one of the largest properties on offer at Cwm Calon, the four-bedroom, three-storey house, priced from pounds 202,950.

Redrow will work with the local planning authority and the National Design Commission for Wales in the creation of Cwm Calon.

Redrow is about to unveil another three new developments in Bridgend, Aberdare and Oakdale - with a total finished value for all four sites of circa pounds 181.5m.

To find out more visit the new marketing suite, open daily from 10am-5.30pm. Buyers can also call 01443 814611 or 01443 862953 log onto www.redrow.co.uk for further information.
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Title Annotation:Features
Publication:Western Mail (Cardiff, Wales)
Date:Apr 9, 2005
Words:412
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