The Development Bank has a different approach to many of the high street banks; they’ve got a vested interest in supporting economic and social growth throughout Wales so understand the bigger picture. We also really appreciate their flexibility.
Keri Negron-Jennings, Director, Primesave
Business overview
Primesave Homes Limited is a family-run business that concentrates on building high-quality, sustainable, energy-efficient and affordable homes in Powys and the Shropshire borders.
Founders
Keri Negron-Jennings and Stephen Jennings, Directors - Father and daughter duo Keri and Stephen have been undertaking new-build residential development schemes for the last 15 years through their main trading company Primesave Properties Limited. Both have vast expertise in housebuilding and construction and, with their team, bring over 50 years’ experience to the business.
Business purpose
Since 2008, Primesave Properties has been providing high-quality homes across the counties of Powys and Shropshire. Its homes come in a variety of sizes and styles and are built in prime locations for its buyers.
Primesave caters for first time-buyers, growing families or those who wish to downsize in a smart, comfortable bungalow. From two-bedroomed terraces, five-bedroom family homes or three-bedroom bungalows, it provides homes to suit its customers’ needs.
The company’s aim is to build sustainable homes that not only support the environment, but also help to reduce household costs. Primesave’s expert team works closely alongside local environmental experts to reduce the impact its homes cause on local surroundings.
Funding
We provided two lots of funding totalling £4.679 million for phases one and two of Oaks Meadow, which enabled works to progress with the first completions on phase one completed in September 2023.
Oaks Meadow is located in the village of Sarn, on the A489 between Newtown and Churchstoke. All of the two, three and four-bedroom homes have off-road parking with detached plots also benefitting from single garages. Oil fired central heating will be installed with extensive floor, wall and loft insulation and a solar roof.
Nine of the properties were sold to local people using Powys County Council’s Local Needs Scheme, allowing buyers to purchase 100% of the property at a discounted market rate as calculated by the Council.
The properties are owned outright by the new owners with freehold title. The affordable nature of the property is maintained for future buyers as they must be resold following the sale criteria which includes not being sold as buy to let investments, holiday or second homes.
What people are saying
As a local family-run company, we pride ourselves on building high-quality and good value new homes. Oaks Meadow offers local people the opportunity to buy in their community, be that their place of birth, residency or employment which is why we were keen to make sure that we partnered with a funder who understood the local area.
The Development Bank has a different approach to many of the high street banks; they’ve got a vested interest in supporting economic and social growth throughout Wales so understand the bigger picture. We also really appreciate their flexibility.
Keri Negron-Jennings, Director, Primesave
Primesave is a well-established family business building properties that are good quality, sustainable, energy-efficient and affordable. It’s exactly what the rural communities of Powys need hence strong levels of demand for these new homes. As a long-term customer of the Development Bank, we’re pleased to be working closely with Keri and Steve as they grow their business and deliver more homes in Wales.
Anna Bowen, Property Development Executive, Development Bank of Wales
