£14.6m deal in place to fund next phase of housing development

Work has started on the next phase of new homes at an innovative housing development in Stockport at the site of a former hospital

The next phase of Barnes Village in Cheadle is going ahead after developer Henley Homes Barnes Village secured a £14.6 million finance deal with NatWest.

HHBVL is a joint venture between Henley Homes and Fred Done of Betfred. The venture has used the funding to support the construction of 84 new homes at its Barnes Village development, which is set to create 155 new homes once complete.

HHBVL has secured planning permission to convert a Grade II listed former hospital into a collection of 38 apartments and townhouses.

A further seven new build townhouses and 117 family homes of varying sizes will be constructed on the 17-acre site

Work was completed on the first phase during 2017, which included the conversion of the old hospital building into 38 units, plus the first tranche of new build homes. Henley Homes PLC is carrying out all the construction work.

Incorporated in 1999, Henley is a design-led property development company, with a reputation for creating outstanding and award-winning homes.

Henley is recognised for its attention to quality and detail, as well as a focused approach to customer care.

Steve Marsh, Director, HHBVL said: “Our goal at Barnes Village is to restore an iconic and important local building and create a sustainable new community, centred around well-designed contemporary homes.

“NatWest helped us with the first phase of the scheme and we are pleased they have returned to help us with phase two.”

Andy Clarke, Relationship Manager, NatWest, said: “HHBVL is making a significant investment and commitment to the local area with its considered restoration of a historic building.

“When complete it will provide new housing for the area and economic investment, attracting new homeowners to this thriving area of the North West.”