£7m funding secured for growing property business
Land and property development company, Fenwood Estates has secured a significant new funding line as it continues to expand and develop new sites across South Yorkshire.
The Doncaster-based company has secured £7m funding from the St Bride’s White Rose Residential Partnership to recycle into new land opportunities in the region over the next four years.
The funding will supports both the ongoing growth of the family-owned business and the Partnership’s desire to invest in residential schemes with a social and economic impact.
Fenwood will use this facility to invest in 1 to 5 acre brownfield and greenfield sites, either with or without planning consent, across Sheffield, Doncaster, Rotherham and Barnsley.
The sites will bolster the company’s existing development land pipeline, which includes its Knights Gate development in Sutton-cum-Lound in Nottinghamshire, where the company is building 33 three and four bedroom homes – with each property boasting eco-friendly features and quality fittings throughout, along with beautiful external features, fully landscaped gardens, and communal areas.
Fenwood also has a reserved matters planning application submitted for a mix of 28 – 2, 3 and 4 bedroom homes close to Doncaster Sheffield Airport. Site preparation works are scheduled to begin in this spring subject to planning approval.
Melissa Kroger, managing director of Fenwood Estates said: “This is a fantastic vote of confidence to accelerate our plans to bring thoughtfully designed quality new homes to a greater number of buyers over the next four years.
“We’re flexible in the sites we will consider acquiring, with the technical capability to take on sites either close to major population centres or as part of urban edge extensions – including those with difficult ground conditions.”
Kroger also noted that the pandemic had been a difficult period but noted that this new funding package “allows the business to properly look forward”.
Ian Houston, partner at St Bride’s Managers, said: “This is the second funding deal the Partnership has completed in South Yorkshire in the last six months and we are delighted to be supporting Fenwood with their growth plans to deliver quality homes in the region.
“We will continue to look at opportunities to back well-run housebuilding businesses who have a track record of delivering homes across South Yorkshire.”
Schofield Sweeney advised Fenwood Estates. Walker Morris and Clegram advised the St Bride’s White Rose Residential Partnership.
