Funding deal unlocks building projects
CUMBRIAN developer Russell Armer is building 29 new homes in the North West as part of a multi-million pound funding deal with NatWest Real Estate.
The residential house-builder, which has been established for more than 50 years, is rolling out two new developments as part of the funding agreement.
The first development consists of 15 homes at Vicarage Drive in Kendal, for which NatWest provided £1.3m funding facilities.
The second is a 14-house build in Arkholme, near Lancaster for which NatWest provided £1.75m. Both developments are expected to be complete by late 2016.
Russell Armer has been a NatWest Real Estate customer for 18 years.
Martyn Nicholson, managing director of Russell Armer, said: “Both housing developments are in areas where is there is a need for family housing. We have been working with NatWest for nearly two decades and have come to rely on the bank for its excellent advice and support within the sector.”
Gavin Deakin, director of Real Estate at NatWest, said: “We are delighted to provide Russell Armer with funding facilities to support these housing developments. The company has a long history of providing excellent housing to meet the needs of the regions it operates in and I wish the business every success for the future.”
