Close Brothers Property Finance has provided a £48m loan to Chase New Homes to finance the construction of 213 new private homes in Brent Cross Cricklewood, North London.
The development comprises 251 units of which 38 are designated as affordable homes, which Chase New Homes will deliver in partnership with a registered provider.
The scheme, which is located on the former PB Donoghue industrial site on Claremont Road, will comprise a mix of one-, two- and three-bedroom apartments spread across three separate buildings.
Neil Bradford, senior business development manager at Close Brothers Property Finance, said: “Our business has always been based on building long term relationships with the best SME housebuilders in the UK, and over the last 12 years we have seen Chase New Homes grow to become an industry-leading business. We are delighted to be supporting them on such a landmark and prestigious scheme and look forward to continuing our relationship as they continue to grow.”
Gary Barton, managing director of Chase New Homes, added: “Close Brothers Property Finance’s personalised, customer-centric approach to lending makes them an ideal trusted and long-term financial partner. With their support we’re excited to get the new development at Claremont Road underway and help to build this new and vibrant community.”
