Funding deal paves the way for homes to be built on derelict site

A derelict site in Grimsby is set to be transformed into a new homes development.

East Yorkshire based Hammond Homes of Distinction has secured a £1.2m funding deal with One Stop Business Finance to develop the Cedars development site on Eastern Inway, Grimsby.

This will be developed into a mixed residential scheme consisting of 19 two, three and four bed link, semi-detached and detached houses and bungalows, with the first properties ready to move in by July.

The site is the second by Hammond Homes of Distinction in Grimsby, funded by One Stop Business Finance, since it embarked on its housing development strategy last year after years working as a sub-contractor for numerous national house builders. Its nearby 13-property Oak Tree View development, which was built in 2018, is now fully constructed.

Nick Hammond, Managing Director of Hammond Homes of Distinction, said: “Our first two projects in Grimsby have allowed us to develop an excellent local supply chain and enable re-investment in the local economy. We are now working on strengthening our positive relationship with North East Lincolnshire Council, which will hopefully lead to further development opportunities in the Grimsby area, and look forward to working with One Stop Business Finance again in future to secure new development funding.

“Our development ethos is to maximise quality over margin, a view which unfortunately is not replicated by many of the mainstream housebuilders today. And with stakeholder engagement given priority, our close relationship with local residents throughout the development process allows us to enhance their community lifestyle – a vision that is of the utmost importance to us.”

Andrew Mackenzie, Managing Director of One Stop Business Finance added: “Hammond Homes of Distinction have been a pleasure to work with and we will continue to support the business to ensure that access to lending does not unnecessarily restrain its growth. Despite the anticipated slowdown in housing sales in the final quarter of 2018, and the uncertainty around Brexit, the quality of the Hammond Homes build is shining through and has meant that demand for their product remains strong.”