Duchy Homes secures seven figure funding deal

YORKSHIRE-based house builder Duchy Homes has secured a seven figure lending package to support a string of new executive housing developments that have a property value of around £5m.

Earlier this year Duchy Homes submitted plans for 14 executive houses in Braithwell near Doncaster and has started construction on a new site in Park Drive in Sprotbrough, following on from the success of its first development nearby.

As part of the funding deal with RBS, Duchy Homes has secured financial backing for the completion of the Park Drive development, comprising nine executive detached houses.

Further developments nearing completion include Handley Cross at Cantley which includes the conversion of a grade II listed building and six new build detached homes and eight detached luxury homes at Treeneuk Gardens in Ashgate, Chesterfield.

Jim Cropper, managing director of Duchy Homes said: “We have set out our stall to be a premier housing developer and with the support of GMI and RBS we have the right financial backing to act competitively and secure the best land for our developments. RBS have supported us from the beginning and this latest agreement with them demonstrates their continued confidence in our business strategy and continued success.”

A spokesman from the RBS Leeds real estate finance team at RBS added: “Duchy Homes has come a long way since it announced plans for its first site in Spotbrough. A string of awards and consistent sales levels is testament to the fact that the team have identified the right market and are successfully delivering dream homes for high end purchasers.”

Leeds-based Duchy Homes is part of the GMI family of companies, the construction and energy group.