United Trust Bank supports £23m luxury apartment development by Stephens + Stephens

By Bridging Loan Directory 27th February 2024

United Trust Bank (UTB) is supporting award winning developers Stephens + Stephens’ development of 32 luxury apartments in the sought after coastal town of Newquay in Cornwall.

Stephens + Stephens was founded by Paul and Helen Stephens in 2008 and combines Paul’s 30 years of experience in construction with Helen’s flair for design. Helen is the Founder and Creative Director of award-winning agency Absolute.

Stephens + Stephens create desirable design-led properties in stunning locations within the Cornish landscape and describe themselves as offering a ‘perfect combination of skills, vision and experience for a whole new-wave style way of designing Cornwall-located buildings, interiors and surrounding spaces with architectural and style-driven longevity’.

The scheme, known as Cliff Edge, is the second phase of the redevelopment of a former hotel site and comprises a new apartment building set over basement, ground and four upper floors.

The first phase was completed last year and achieved a strong level of sales from purchasers looking to capitalise on the demand for high quality holiday accommodation in the area and those wishing to live there and enjoy the spectacular Cornish coastline all year round.

UTB is providing £15m of funding towards the completion of Phase 2 of Cliff Edge, which offers 32 apartments ranging in price from £250,000 to well over £1m with the majority enjoying spectacular sea views.

Buyers can also choose to have the interior of their home designed and furnished by Absolute which offers a turnkey designer interiors service.

Paul Stephens of Stephens + Stephens commented:

“We are delighted to be working with United Trust Bank on this prestigious development in Cornwall.

This is our first project with the Bank, and we have found the whole team approachable, engaged and committed to working in collaboration with us to deliver this project.

We are looking forward to the months ahead and working together on future schemes”.

Orla Costello, Senior Director – Property Development – United Trust Bank said:

“We love working with people who are passionate about property and Paul and Helen are exactly that.

They have completed many fabulous developments across Cornwall and picked up several awards for exceptional design along the way.

This is the first time UTB has supported a Stephens + Stephens development and I am confident that it will be another success to add to their outstanding track record.”