OakNorth Bank provides £4.2m loan to GR33N Homes for 31 new homes in South Yorkshire

By Bridging Loan Directory 8th July 2021

OakNorth Bank – the UK bank for entrepreneurs, by entrepreneurs – has provided a £4.2M loan to family-run, SME housebuilder, GR33N Homes.

The capital from OakNorth Bank will be used to develop a new 31 unit, residential scheme in the popular rural village of Walkeringham, located just over 15 miles from Doncaster town centre, and only a short drive from the A1M motorway, Doncaster Sheffield Airport and the popular visitor attraction of Walkeringham Nature Reserve.

Consisting of a range of detached, semi-detached and bungalows, the scheme will also include 11 affordable units.

Founded in Doncaster in 2013 by experienced property developer, Derrick Wilkinson, GR33N Homes has established a local reputation for developing excellence, having completed several successful schemes across Nottinghamshire and South Yorkshire.

Gr33n Homes’ team has c.20 years’ experience in property development, and has self-built 10 schemes to date including houses, apartments and commercial property with over 100 units.

All its homes are built sustainably, using environmentally friendly construction practices.

Derrick Wilkinson, Founder of GR33N Homes, said:

“Our family-run business is about much more than just building homes, it’s about creating outstanding well designed properties.

As a business that puts sustainability at its heart, we’re glad to have found a funding partner that is not only willing to support us financially, but also shares our commitment to the environment.

We take a bespoke approach to designing and developing our homes, and the team at OakNorth Bank do the same when it comes to their loans.

We felt like we had a true partner throughout the process that will support us throughout the economic cycle.”

James Espley, Director of Debt Finance at OakNorth Bank, commented:

“Flexible working resulting from the pandemic has led to increased demand for rural homes, with families looking for larger, more spacious properties outside of cities.

It is therefore essential that experienced SME housebuilders, such as GR33N Homes, are given the required financial backing to help deliver these homes.

Derrick and the team have a strong track record, matched by an equally strong reputation, so we’re delighted to be supporting them.”