Milford Terrace is a two-part terrace of small houses built in c.1850. These houses were built for ground leaseholders on Picton Estate land by the Saundersfoot Building Society. The original size of each plot was ten perches. It was intended to develop the whole W side of Milford Street with 17 similar houses. The estate map of 1850 indicates the complete row, but its schedule shows that only five were completed at the lower (S) end and seven at the upper (N) end at that date. At the upper end the whole original group of seven survives. Originally the street ran directly in front of the houses (as shown on the 1859 map), so there were no front gardens; but its position was later moved to the E and there are now long front gardens.

Pen-y-Dre is the largest house at the end of the row, and the others descend to the left. The top three plots were developed by Capt. T. Lloyd, who occupied the first house himself (the site of which is bigger, being on the corner). Each of the the terraced houses is single fronted, two windows, two rooms deep, with later rear extensions. Each has its entrance at the left and its chimney in the gable of the higher house to the right. Pen-y-Dre is taller than the other houses and has 16-pane sash windows instead of 12 and has a door with a fanlight under a semi-circular arch. They are built from rubble stone masonry, rendered and painted in a variety of pastel colours. They have slate roofs with ridge tiles.

Listed as a good example of early Victorian Building Society housing contributing positively to the character of the harbour area of the village, notwithstanding some later variation of detail. Historically important as evidence of the intention of landowners to develop the village with housing of good status.

Source:- Cadw Listed Buildings, NJR 11/05/2011