Investment deal enables work to start on residential scheme
Work is under way on a housing development by Hull-based Hammond Homes in the North Lincolnshire village of Barnetby le Wold.
This is after a £750,000 deal was secured with SME funding specialist One Stop Business Finance.
The King’s Park development is the fourth scheme by Hammond Homes and will see the construction of nine detached and semi-detached three-bedroomed bungalows within a gated cul-de-sac on Windsor Way.
Hammond Homes, led by directors Nick and Debbie Hammond, has previously constructed homes at sites in Grimsby and Barton-upon-Humber.
Key to bringing their latest scheme to fruition was a funding deal agreed with East Yorkshire-based One Stop Business Finance.
It has supported the company on all four of its projects since the house builder was established in 2017.
It has provided the finance that is particularly important in the early stages of development for land purchase and for construction work to start.
Debbie Hammond said: “We’re thrilled to be able to get the ball rolling on our latest new homes development at Barnetby, which we anticipate being sold off-plan given the popularity of the village location and unique designs that include exposed oak features.
“One Stop Business Finance have played a key role in making King’s Park a reality, and they continue to provide us with the support we need to grow our brand and become an established housing developer in the Lincolnshire and North Lincolnshire regions.”
The first homes are due for completion by next June, with the development fully finished by December 2021.
Andrew Mackenzie, MD of One Stop Business Finance added: “It’s fantastic to see another excellent scheme under way by Hammond Homes and to see their continued growth.
“We’re delighted to have been able to support them by arranging the funding that is crucial to development schemes like King’s Park but so difficult to access from most mainstream banks.
“We’d also like to thank the team at Clarion Solicitors led by Ben Slack who undertook the legal work on this latest deal.”
