Case study: UTB supports £23m luxury apartment development by Stephens + Stephens

United Trust Bank is providing £15m of funding towards the development of 32 luxury apartments in Newquay in Cornwall.

Related topics:  Development,  Case Study,  UTB
Property | Reporter
28th February 2024
Orla Costello - UTB 808
"This is the first time UTB has supported a Stephens + Stephens development and I am confident that it will be another success to add to their outstanding track record"
- Orla Costello - United Trust Bank

UTB's funding will go towards the completion of Phase 2 of Cliff Edge, which offers 32 apartments ranging in price from £250,000 to well over £1m with the majority enjoying spectacular sea views. Buyers can also choose to have the interior of their home designed and furnished by Absolute which offers a turnkey designer interiors service.

The scheme, known as Cliff Edge, is the second phase of the redevelopment of a former hotel site and comprises a new apartment building set over basement, ground and four upper floors.

The first phase was completed last year and achieved a strong level of sales from purchasers looking to capitalise on the demand for high-quality holiday accommodation in the area and those wishing to live there and enjoy the spectacular Cornish coastline all year round.

Paul Stephens of Stephens + Stephens commented: “We are delighted to be working with United Trust Bank on this prestigious development in Cornwall. This is our first project with the Bank, and we have found the whole team approachable, engaged and committed to working in collaboration with us to deliver this project. We are looking forward to the months ahead and working together on future schemes”.

Orla Costello, Senior Director – Property Development – United Trust Bank said: “We love working with people who are passionate about property and Paul and Helen are exactly that. They have completed many fabulous developments across Cornwall and picked up several awards for exceptional design along the way.

"This is the first time UTB has supported a Stephens + Stephens development and I am confident that it will be another success to add to their outstanding track record.”

More like this
Latest from Financial Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 20,000 landlords and property specialists and keep up-to-date with industry news and upcoming events via our newsletter.