OakNorth Bank provides SME housebuilder with £2.7M investment facility for new residential development in Brighton

By Bridging Loan Directory 14th September 2021

OakNorth Bank – the UK bank for entrepreneurs, by entrepreneurs – has provided a £2.7M investment facility to Martin Homes for its new residential development on Buckingham Road in Brighton.

The five-storey Victorian conversion, named the Heritage Collection, consists of 14 one, two and three-bedroom apartments, with the lower ground floor apartments all benefitting from their own private patio gardens.

The development work has been carried out skilfully and tastefully, providing the new owners with beautiful engineered oak flooring throughout, striking midnight blue fully fitted kitchens with quartz worktops, electric central heating plus many other period features.

Located on Brighton Road, the development is close to the vibrant dining, entertainment, and retail scene of the renowned Brighton Lanes, and less than a two-minute walk to Brighton Station, with links to London in under an hour.

Founded in 2008, Martin Homes specialises in new build and conversion developments within the prime locations of London, Sussex, Surrey and Kent.

The company is led by Managing Director, David Martin, who has spent the last 30 years’ managing all styles of development and is currently investing in numerous development projects across the UK.

David Martin, Managing Director of Martin Homes, said:

“The Heritage Collection is a development which has proven popular to London Buyers and investors alike, who have been looking for not only period features with a ‘new home feel’ but spacious apartments and those with outside space.

The team at OakNorth Bank were supportive partners who understand the market and are willing to go the extra mile to offer a great experience.”

Damien Hughes, Senior Director of Property Finance and Anirudh Kare, Associate of Debt Finance at OakNorth Bank, commented:

“With over three decades’ of experience, David Martin is a highly-experienced homebuilder and has led Martin Homes to successfully develop multiple projects.

The fact that almost half of the 14 units have already been sold – most of which are on the typically less desirable lower ground and ground floor units – demonstrates there is clear demand for high-quality homes in this areas.

This, coupled with its proximity to Brighton Station makes it an attractive choice for commuting professionals and young families who want more space.”