A £6 million investment from the Development Bank of Wales has supported the delivery of the second phase of a residential development in St Clears, helping to bring forward 29 high‑quality, energy‑efficient homes while sustaining local employment in West Wales.
The challenge
Demand for new housing in St Clears has remained strong, particularly for well‑designed homes that meet modern energy‑efficiency standards. Following the successful completion and sale of the first phase of development, the delivery of a second phase required significant upfront funding to maintain momentum and bring additional homes to market without delay.
For Obsidian Homes, the scheme also formed part of a wider growth journey as a fast‑growing regional housebuilder with a strong commitment to local employment, quality and sustainable construction.
Development Bank of Wales support
The Development Bank of Wales provided a £6 million loan through the Wales Residential Property Fund to support the second phase of the Priory Fields development in St Clears. The funding was provided to Solitaire, a joint venture established to deliver the scheme, with construction led by Obsidian Homes.
The investment enabled construction of 29 new homes, comprising a mix of two‑, three‑ and four‑bedroom properties designed to meet the needs of the local market.
The outcome
Phase two of the Priory Fields development is nearing completion, following the successful delivery of 23 homes in phase one. The new homes have been built using modern timber‑frame construction and energy‑efficient design, achieving high EPC A ratings and incorporating solar PV panels, EV charging points, high‑performance insulation and low‑impact construction methods.
The development has supported the continued growth of Obsidian Homes, which now employs around 40 people, many of whom live within close proximity to the site. By directly employing its own trades, the business has been able to maintain quality and consistency across its developments while sustaining skilled local jobs.
Wider impact
The scheme provides much‑needed new homes in an established community while contributing to the transition towards lower‑carbon housing in Wales. By combining sustainable construction with strong local supply chains, the development delivers social and economic value alongside environmental benefits.
The project also demonstrates how targeted property development finance can support regional housebuilders to scale their operations while remaining rooted in the communities they serve.
What the business said
Huw Morgan, Co‑director of Obsidian Homes, said:
“I grew up just a stone’s throw from our first development, and delivering high‑quality homes on our doorstep means a lot to us. In St Clears we’ve already completed over 20 units, with more finishing soon, and the feedback from residents has been overwhelmingly positive. Being able to walk through the site and see that satisfaction first‑hand is incredibly rewarding.”
Paul Rees, Co‑director of Obsidian Homes, added:
“We now employ around 40 people directly, and almost all of them live within 10 to 15 miles of the site. Being able to sustain that level of local employment across our schemes is a major part of who we are. Developments like St Clears help reinforce our reputation for quality and allow us to deliver homes that the local community truly values.”
What the Development Bank of Wales said
Property Development Executives Karl Jones and Rob Good said:
“This second phase builds on a strong track record of delivery and provides much‑needed homes in an established community. Demand in St Clears remains strong, and the development delivers high‑quality, energy‑efficient housing with clear local benefit.
“The commitment to sustainable construction, alongside a strong local supply chain and direct employment model, makes this a project we are very pleased to support.”
