Mulberry Homes has secured funding from Close Brothers Property Finance to finance the fourth and final phase of a £120m GDV residential scheme in Lutterworth, Leicestershire.
Mulberry Homes has already delivered 288 homes at Kingsbury Park, which is the largest single scheme ever funded by Close Brothers Property Finance.
Simon Davey, business development director at Close Brothers Property Finance, said: “Our relationship with Mulberry Homes spans more than a decade and is built on mutual trust, consistent communication and a shared commitment to delivering high quality housing. In today’s environment, where delivery timelines are longer and market conditions more complex, relationship-led lending has never been more important. We remain committed to supporting established SME housebuilders like Mulberry Homes to bring forward much-needed new homes across the UK.”
John Burke, finance director at Mulberry Homes, added: “Kingsbury Park has experienced both the best and the worst of housing market conditions, but it has proven to be a highly resilient location, with demand remaining steady even during the market’s lower ebbs. A phased approach has been vital to allow us to deliver high quality homes alongside the infrastructure and open spaces needed to create a thriving community.
“Close Brothers has been a consistent partner from the outset, with a strong understanding of both the scheme and the wider development lifecycle. Their ability to provide flexible, pragmatic support when required has played a key role in helping to keep the project on track and delivering it efficiently.”
