Chase New Homes secures £48m Close Brothers loan

Chase New Homes secures £48m Close Brothers loan

Chase New Homes has secured a £48m loan facility from Close Brothers Property Finance for a major regeneration programme in Brent Cross, Cricklewood.

This will finance the construction of 213 private homes on the north London site, part of one of Europe’s largest regeneration projects.

The overall development is made up of 251 units and located near the new Brent Cross West station.

Some 38 of the 251 units will be affordable homes.

The scheme is taking place in the former P.B. Donoghue industrial site on Claremont Road and is part of the wider Brent Cross Regeneration programme that aims to create 6,700 new homes.

This will also include commercial and retail spaces, arts and culture facilities, green areas, improved schools, and healthcare facilities.

Chase New Homes has also committed to making improvements at local public park ‘Millenium Green’ to benefit the local community.

“Our business has always been based on building long-term relationships with the best SME housebuilders in the UK and, over the past 12 years, we have seen Chase New Homes grow to become an industry-leading business,” said Neil Bradford, senior business development manager at Close Brothers Property Finance.

“We are delighted to be supporting them on such a landmark and prestigious scheme and look forward to continuing our relationship as they continue to grow.”

The lender has provided finance for Chase New Homes before.

Since 2012, Close Brothers Property Finance has funded seven of its developments, totalling over 500 units.

“Close Brothers Property Finance’s personalised, customer-centric approach to lending makes them an ideal trusted and long-term financial partner,” said Gary Barton, managing director at Chase New Homes.

“With their support, we’re excited to get the new development at Claremont Road underway and help to build this new and vibrant community.”

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