Close Brothers Property Finance has provided a £48m loan facility to Chase New Homes, to finance the construction of 213 homes in Brent Cross, north London.
The scheme is the first residential site to be brought forward since the new station, Brent Cross West, opened in December 2023.
The development includes 251 homes, of which 38 homes are designated as affordable. Chase New Homes will deliver the homes, which comprise one-to-three-bedroom flats across three separate buildings, in partnership with a Registered Provider.
The development is located on a former industrial site on Claremont Road and forms a central part of the multibillion-pound Brent Cross Town regeneration programme, which will provide 6,700 new homes, commercial and retail spaces, arts and culture facilities, greener spaces, and improved schools and healthcare facilities.
Close Brothers Property Finance has previously provided finance for seven Chase New Homes developments since 2012, totalling more than 500 homes.
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.”
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.”
Image © Chase New Homes
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