30 luxury homes to be built after £3.2m funding boost

How the scheme will look
X The Business Desk

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Assetz Capital has completed a £3.2m development loan for thirty new luxury Nottinghanshire homes through the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).

The developer, Ryton Park Homes, is restoring a former school in Worksop creating 26 new mews houses and four apartments aimed at the over 55s market. The 1920s building – which has been identified as a heritage asset but has suffered from anti-social behaviour in recent years – has been empty since the school closed in 2014. The loan has funded the construction and land acquisition costs.

Rebecca Hall, regional relationship director at Assetz Capital said: “It’s been a real pleasure assisting a brilliant SME developer in restoring this incredible site of a former school. There’s been plenty of issues documented whilst it’s been empty, so it’s really rewarding to turn it into a development that will not only restore its former glory and heritage, but also provide much needed high-quality housing to over 55s in the area.”