Aldermore has appointed Simon Green as property development manager.
The bank is targeting property development business in London and the South East. Aldermore plans to significantly increase its property development lending over the next few years and, whilst its strategy is to focus on residential projects located in London and the South East, the bank will consider development projects elsewhere, notably in the South Midlands, East Anglia and the Home Counties.
Aldermore says it is particularly interested in speaking to experienced and established developers who need to borrow between £500,000 and £5 million per project.
Green (pictured) reports to Peter Owen who heads up Aldermore’s property development team and provides support to property development firms wanting to raise funding on high quality residential property development projects.
He joins Aldermore from Dunbar Bank where, as a regional manager from 2001 to the present, he was responsible for property development funding. Prior to that he worked in structured finance on behalf of NMB Heller.
“Not only does Simon have considerable proven experience but he is also well-known to property developers throughout London, the South East and Midlands,” said Owen.
“His knowledge and contacts will be invaluable in helping Aldermore capitalise on its presence in this sector and I wish him every success for the future.”
Green added: “Property developers have been struggling to raise funds on quality residential developments and its good to see a dynamic and progressive new bank such as Aldermore targeting this sector.
“I’m looking forward to working with developers during the months ahead.”