This facility will be used to build nine new residential homes. One will be a four-bedroom detached house, and the other properties will be two sets of three-bedroom semi-detached homes.

The site of the new development is in a high-demand area adjacent to a train station, and once completed, the nine new residential homes will also have parking spaces with access to EV charging points.

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The client, an experienced developer, is a new borrower to LendInvest, and the funding will also be used to purchase the parcel of land, currently vacant except for one building that will be demolished before new construction begins.

“This project is a great example of a property developer with the vision to transform vacant land into an opportunity,” said Steve Larkin, managing director for development at LendInvest (pictured above).

“During a time when new high-quality homes are needed throughout the UK, SME developers are ready to deliver.

“Since LendInvest’s first development deal nearly 10 years ago, we have always been committed to supporting SME developers throughout the entirety of their project, and this facility reaffirms that.”