Aldermore has provided a £7.14m property development loan to Hollins Homes Limited, a well established new homes developer in a joint venture partnership with Housing Growth Partnership (HGP) to fund a new development in Lower Bartle, Preston.
The loan will fund the first part of phase one of the development, which is 30 of the initial 55 homes, including affordable homes and 14 different house types. Each house type will benefit from off-street parking with some units benefitting from garages. The homes will feature Ohme universal electric vehicle chargers to encourage homeowners to lead sustainable lifestyles.
The overall development will eventually be comprised of over 100 homes, including further affordable properties.
The site is located in a semi-rural location, just five miles from Preston city centre and close to the University of Central Lancashire. Lower Bartle is well connected by road with the M55 and M6 within a 10-minute drive from the development site.
David Whitehouse, property development manager at Aldermore, said: “We’re delighted to be working with Hollins Homes and HGP to support delivering this exciting project. Stephen and his team have an excellent track record in securing sales on their sites which are always well planned and good value, and we are confident this upcoming development will serve demand for quality homes in Preston.”
Stephen Goodman, chief executive at Hollins Homes, added: “We are thrilled to be working with such esteemed partners as Aldermore and HGP to bring our vision for this exciting scheme to life. We know that the demand for good quality homes in the area is high, and we are confident that this scheme will meet and exceed those expectations.
“By working with Aldermore and HGP, we are able to utilise their expertise and resources to deliver a project that will make a positive impact on the local community.”