Mizen Group extends development portfolio following the acquisition of three new sites

By Bridging Loan Directory 9th February 2021

Mizen Group has successfully completed a mixture of residential and mixed-use property developments to expand its portfolio across London in schemes totalling almost £19m.

The developments – including twin sites providing 12 family homes in the heart of Fortis Green and Finchley, North London together with 30 flats and two retail units in Sutton, South West London – also include several affordable housing units.

The schemes were supported through £18.5m development finance facilities provided by Shawbrook Bank, a specialist lender to SME property developers in the UK.

Barry Tansey, Chief Executive at Mizen, said:

“All three schemes are prime examples of our focus, commitment and ability in delivering sustainable homes and schemes across London and the South East.

These are innovative and ambitious developments which will deliver outstanding homes to the Fortis Green, Finchley and Sutton areas, and include affordable housing and retail units.

Our motto is that we don’t build houses, we build homes. We are extremely proud to be able to continuously meet and exceed on those commitments to our clients.”

Richmond-based Mizen is a leading privately owned property developer and construction business with over 30 years’ experience.

It has a history of developing award-winning residential-led properties across London and the South East since being founded in 1986.

The business has an extensive track record of development, land acquisition, project management and finance.

Its latest project in Fortis Green will deliver seven much needed family homes in late 2021 while the Finchley development will see the delivery of a further five new build family homes in the Spring of 2022.

The development at Sutton is expected to break ground in the next month and will bring forward a development of 30 flats and two retail units on Sutton High Street for delivery in late 2022.

Mizen expects the new homes in Sutton – a mix of one, two, and three-bedroom units with private balconies – will appeal to young professionals and first-time buyers.

Mr Tansey added:

“Prior to working with Shawbrook, we had been searching for a lender with which to cultivate a long-term partnership and thus cement the foundations for a successful and lasting relationship.

Shawbrook has an extensive track record in the development finance space across the UK.

The Bank was also able to deliver under tight timescales and was extremely knowledgeable and supportive of our business and our strategic goals.

We knew instantly they could see the value in these projects, and we are absolutely delighted to be working with them.”

Raymond Wong, Relationship Director for London and South East within Shawbrook’s development finance team, said:

“As with all our development finance facilities, Mizen has benefitted through our dedicated relationship management which allowed us to really understand their business and, in- particular, both the intricacies and potential of these individual schemes.

As a specialist with an outstanding knowledge of the development finance sector and the subsequent requirements of developers such as Mizen, we were only too happy to provide £18.55m in development facilities.

This project will not only boost Mizen’s impressive portfolio of developments but also provide top quality housing and retail units across London.”