Assetz Capital provides £1.3m bridging loan for Cheshire luxury homes development
Amor Homes Ltd has secured a £1.3m loan from specialist lender Assetz Capital (Assetz) to complete its luxury development in Cheshire.
Having successfully built four luxurious homes in a semi-rural setting in South Cheshire the experienced developers are now exiting the development facility with Assetz through a £1.3m bridging loan.
Although the building schedule had initially been disrupted at the start of the pandemic, the first boost to cashflow ensured that the project carried on throughout the various lockdowns.
The scheme is providing high-quality family homes in a rural setting, with transport links to the M6 and M56. Two of the homes are already sold and there has been significant interest in the remaining properties.
The bridging facility through Assetz will repay the remaining balance of the previous development loan and allow Amor Homes to finalise the sale of the other properties.
Owner of Amor Homes, Dave Bracegirdle, said:
“Our Relationship Director at Assetz Capital, Colin Doyle, has been extremely helpful through the entire process, as has the wider team at Assetz.
The diverse lending proposition that Assetz provide has been incredibly useful for us and we’re delighted to complete on this luxurious scheme which will provide high-end family homes.”
Colin Doyle, Relationship Director at Assetz Capital, said:
“Amor Homes has been a pleasure to work with, and it’s great to see the homes now being sold and families moving in. At Assetz, we aim to keep tackling the housing crisis in the UK, so seeing schemes like this through to completion is essential to meet the demand.”