Hampshire Trust Bank has provided a £1.2m loan to Cheshire-based development partnership for the refurbishment of Victorian property in Sandbach, Cheshire, and the construction of three new homes all known as 'Copper Beeches'.
As part of the project, which has a gross development value of £2.2m and is expected to be completed in June this year, Wilkinson House will be converted into a five-bedroomed home, with the additional properties, which will also have five bedrooms, being built in the grounds.
Lee Charnley, partner at Wilkinson Sandbach LLP, said: "Immediately from the start of our dealings with Hampshire Trust Bank, we knew that we were working with a funder that understood our needs. The development continues to progress well which is in no small part to the prompt, proactive and commercial approach the bank and their team of professional advisors have adopted throughout. This is the first development that we have done with Hampshire Trust Bank but I am certain that the relationship will continue to grow and grow following the successful completion of Copper Beeches, Sandbach."
Hampshire Trust Bank has a dedicated team based in the North of England and is due to open an office in Leeds in the next couple of months.
Neil Leitch, Regional Director at Hampshire Trust Bank, said: “Sandbach is becoming an increasingly popular destination with the Manchester commuter market. We are delighted to be supporting this project and helping to breathe new life into Wilkinson House and its grounds, which will provide much-needed housing in the area. This is exactly the type of experienced locally-based developer we like to work with, professionals that truly understand the local market and what buyers and looking for.
“We are committed to the Northern property market and are looking forward to opening our new office and in continuing to build lasting relationships with SME housebuilders in the area.”
Read more information on Hampshire Trust Bank’s Property Finance team in the North of England.