Development finance lender Atelier has announced the completion of £16.6m financing, structured as a peak debt facility at 54% LTGDV over a 30-month period, to fund a multi-phase ground-up development of high-quality houses in Butleigh, Somerset.
Being built by award-winning local housebuilder Galion, the development will provide well-designed and desirable family homes, whilst maintaining a focus on sustainability and energy efficiency throughout. The village boasts picturesque views and strong community ties, near local amenities such as schools, farm shops and local transport hubs.
"We're proud to be funding this scheme, our first with Galion," said Harley Stairmand, lending manager at Atelier. "There was a strong alignment in how we both approach quality and delivery, and this peak debt facility supports the delivery of 30 carefully considered new homes for the community."
"The funding provided by Atelier enables us to bring forward a truly distinctive scheme at Butleigh, one that sets a new benchmark for refined, environmentally conscious living in the area," said Angus Macdonald, founder of Galion Ltd.
"Atelier's deep sector expertise and their relationship-led approach resulted in a funding solution tailored precisely to the needs of this project. We're now excited to begin construction. This development represents exactly what Galion exists to deliver: homes that are thoughtfully designed, beautifully crafted and rooted in their surroundings, using natural materials, traditional skills and a strong sense of place."
