Regent Square has secured a loan from Hampshire Trust Bank to fund the purchase of a site in Halstead, Essex, and the construction of nine four-bedroom family homes.
It is the second time that Regent Square has worked with the Property Finance team at Hampshire Trust Bank.
As part of the project, which has a gross development value of about £3.5m and is due for completion in 2019, eight new townhouses will be built in the grounds of an existing property, which will be fully renovated. An access road will also be built with each property being allocated two off street parking bays.
Jon Nash, Director at Regent Square, said:
Our aim is to provide smaller private residential schemes based upon a design ethos of higher quality and specification. We are pleased to continue our working relationship with Hampshire Trust Bank and look forward to working with them on this next exciting development for our company.
John O’Donnell, Director, Property Finance, at Hampshire Trust Bank, said: “We pride ourselves on building lasting relationships with experienced SME housebuilders, with 50% of our business being repeat business. We have worked with Regent Square previously, and they are focused on the same goal as we are, building the right type of homes, that appeal to the average family, in the right location. We look forward to working with Regent Square again in the future.”