Housebuilder lands £120m finance deal

Lincolnshire-based housebuilder Allison Group has landed a £120m refinancing deal.

The funding consists of a £20m five-year loan from HSBC and a five-year £100m revolving credit facility with HSBC and NatWest.

The finance will be used by the Allison Group to build 2,000 homes annually within the next five years across Lincolnshire, Cambridgeshire, Northamptonshire and Rutland, East Midlands, East Anglia and the South West.

Law firm Roythornes advised Allison Group on the deal.

Bhavesh Amlani, national head of real estate at Roythornes, said: “We are delighted to have assisted the Allison Group with this important refinancing deal, which will see them move to the next phase of their development plan.

“We pride ourselves on building longstanding relationships with clients, so we’re pleased to once again be a trusted provider for the group and look forward to seeing their successes.”

John Anderson, CEO of Allison Group, said: “This deal will put the company in a stronger position to reach our projected targets and we want to thank Bhavesh and his team, who have all been a great support during the process and helped us to complete the deal within our set time frame. We’re excited to see what the future holds for us.”