Released on = August 23, 2007, 9:22 am

Press Release Author = Jenna Weekes

Industry = Construction

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.


Web Site = http://www.davewells.net

Contact Details = Dave Wells Properties
107 Windham Road
Bournemouth
Dorset
BH1 4RN
01202 301244