Atelier has completed a £12.6m development finance loan to fund the construction of 35 homes in Cowfold, West Sussex, including 12 affordable units.
The facility will support land acquisition and ground-up construction of the scheme in the Horsham district. Structured over a 21-month term at 70% loan-to-value (LTV), the funding will cover a mix of detached and semi-detached houses and flats.
The development comprises nine four-bedroom detached houses, 14 three-bedroom semi-detached houses, 10 two-bedroom semi-detached houses and two one-bedroom flats.
The scheme is being delivered in Cowfold, a village in West Sussex near the South Downs National Park.
“This is a great residential scheme in a well-established location, and we are pleased to be working with a specialist professional developer with a strong track record of developing homes with character,” said Raj Hothi, Lending Director at Atelier.
“Our focus at Atelier is on understanding each opportunity and structuring funding that gives borrowers the confidence and certainty to move forward. This development will provide 35 high-quality homes in Cowfold, including 12 affordable units, creating a lasting positive impact for the local community.”
“We are delighted to be progressing our new scheme in Cowfold, which we believe will make an excellent addition to the village, delivering high-quality homes, including affordable housing,” said Joe Bruckland, Managing Director of Bruckland Developments.
“As an established local developer, we are proud of our reputation for delivering beautiful homes of an exceptional standard. We are very much looking forward to working with Atelier on this scheme. From the outset, the team has demonstrated a strong understanding of our business and our vision for the development. We value the importance of trusted partnerships and look forward to working collaboratively to bring this new collection of homes to life.”
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