Xavier Rush

Ex-rugby player secures £1.1m loan for chapel renovation

Former New Zealand All Black Xavier Rush (pictured above, right) has secured a £1.1m loan from the Development Bank of Wales to renovate a former chapel into six townhouses.

The renovation of the Pen-y-Fal chapel in Abergavenny will be carried out by Xavier’s X-Stream Properties Limited, which was established in 2016 and recently transformed West Aberthaw Barns into a state-of-the-art property that was acquired for the residence of autistic adults.

With regards to his latest development, Xavier said that the six townhouses will be situated less than five minutes away from Abergavenny town and close to the railway station.

“The loan from the development bank will enable us to breathe new life into the chapel to the highest specification; creating accommodation that exceeds the expectations of the most discerning buyers.

“What’s great is that the decision-making process on the loan has been really quick and straightforward, plus we’ve had the help of a dedicated property development executive to ensure that the finance is tailored to meet our exact needs.”

Nicola Crocker, property development executive at the Development Bank of Wales (pictured above, left), said that the bank’s role was to help SME developers make a big impact across Wales.

“Xavier’s vision is to create unique living spaces in desirable locations and this will hopefully be one of many similar developments for Xavier.

“We were immediately keen to support his latest development given the attractiveness of Abergavenny and the appeal of the properties being created.

“The short development period will enable us to recycle the funds into further development opportunities in Wales.”

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