Residential development facility sourced for Eaton Homes

By Bridging Loan Directory 28th June 2023

Peritus Corporate Finance has announced the completion of a new development facility for its valued client, Eaton Homes.

Based in the heart of Cheshire, Eaton Homes is the vision of craftsman David Thompson, with the aim of creating bespoke housing developments in and around the villages of central and south Cheshire.

Each development of high-quality homes has a mix of housing styles and budget, providing housing opportunities for both local families and those new to the area.

“We build for the long term, for future generations” David commented, “attention to detail and the quality of the construction are critical.

I’m passionate about creating a home you will be proud of – as proud as I and my team are when we complete each new project”.

Eaton Homes approached Peritus to finance the second phase of the development having already completed the infrastructure of the whole site (85 units) and the development of the first 31 residential homes at The Old Market in Beeston, a short distance from Tarporley.

Peritus had already sourced the funding for phase one.

The gross development value of the 30 units in phase two is £10.1m. Peritus secured a new development facility with a 20 month term at highly competitive pricing.

Lee Mainwaring, Director, Eaton Homes said:

“We have built an excellent working relationship with Peritus during the phase one development and during this second transaction, Peritus went above and beyond the call of duty in challenging market conditions to secure a facility for our Beeston scheme which contains a collection of fantastic 1, 2, 3, 4 and 5 bedroom homes in a variety of styles that promote open plan, modern living in the heart of the Cheshire countryside.

Whether you are a first time buyer, looking for something bigger or downsizing, we have a home designed for you.”

Gordon Clements, Peritus noted:

“In these challenging conditions, we were delighted to again work with Eaton Homes and we look forward to the second phase making great progress during 2023.

I would like to place on record my thanks to all involved in this transaction.

Peritus continues to be active in the market and our team of highly experienced property professionals are all working hard to ensure our clients receive a smooth and seamless transaction, no matter what the market conditions are.”