Kingswood Homes is very pleased to have concluded a pioneering funding deal with Homes England which will help us increase the number of homes we build each year.
It is a flexible muti-site loan facility that allows us to move funds between developments to match customer demand and completion targets. It also allows us to add additional sites as they come on line which hugely helps our growth plans.
This flexibility and certainty means that as a company we can concentrate on what is really important, building well designed houses of the highest quality and looking after our customers.
The funding facility currently covers four sites – Green Hills in Blackburn; The Hollies at Forton; the upcoming Signal Point in Elswick and the Market Quarter in Hatherleigh – with planning for more than 200 homes and a GDV in excess of £50m.
Paul Jones, managing director of Kingswood Homes said: “This is the first time such a funding deal has been agreed and I am very proud that Kingswood has been a pioneer, unlocking the financial support needed to build the homes our customers want to live in. Demand across all our developments remains extremely strong and the backing of Homes England will give customers complete peace of mind and total confidence in choosing a Kingswood home.”
Homes England commented: “We are pleased to be able to provide a flexible funding structure to help support the continued growth of Kingswood Homes. The structure highlights the ability we have within the Home Building Fund to structure a finance package matched to the specific needs of a partner.”