Honey Hill Housing

Assetz Capital provides £2.1m to developer Honey Hill Housing

Honey Hill Housing has secured a £2.1m facility from marketplace lender Assetz Capital for the construction of nine houses on the Isle of Sheppey, Kent.

The 1.7-acre development site — which is situated at Scocles Farm in Minster — consists of several derelict 19th- and 20th-century farm buildings.

The development will contain eight semi-detached, three-bedroom houses and one detached, four-bedroom house.

“The flexible structure of our loans really helped [Honey Hill Housing] in this case, as we were able to provide additional funding against the land and cover 100% of the construction costs,” said David Penston, managing director of property loans at Assetz Capital.

Michael Withers, proprietor at Honey Hill Housing, added: “This particular deal has been in the pipeline for a while, but David’s comprehensive understanding of the challenges that housebuilders face, such as planning permission and environmental-related issues, has meant that we have been supported all along the way.”

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