£12.1m loan funds new Peak District housing

Atelier, a development lender, is providing Stancliffe Homes, a developer in Chesterfield, with a £12.1m loan to build 47 homes on the southern border of the Peak District.

The funding will be combined with an investment from Housing Growth Partnership, an equity investor associated with Lloyds Banking Group.

Since 2016, they have supported the construction of over 7,500 new homes across the UK and have invested £17.7m into Midlands housebuilders just this year.

Stancliffe homes latest development, Bentley Walk, is located in Tansley a village near Matlock. The development will feature various homes types including bungalows, semi-detached and detached houses with up to five bedrooms, along with six affordable homes.

George Seabrook, lending manager at Atelier said: “The combination of Stancliffe Homes and Housing Growth Partnership is a powerful one. Both have an impressive record of delivering attractive, highly saleable homes in this stunning part of the UK.

 “That’s why we worked with them to provide a bespoke funding solution that will support the phased construction, completion and sale of the homes in Bentley Walk. Our peak debt facility will enable Stancliffe to run sales of completed units alongside the construction of later phases, providing optimum funding efficiency and keeping down finance costs.”