Eamonn O'Rourke

OakNorth provides £17.8m loan for 128-unit residential development

OakNorth Bank has provided a £17.8m loan to property developer Marden Homes for a 128-unit residential development in Little Waltham, near Chelmsford.


The development — which will include 28 affordable homes — will comprise one- to four-bedroom units and consist of terraced, semi-detached and detached properties.

Marden Homes has also provided a 10-year guarantee for all properties in the development.

“With its excellent transport routes and prime location within the London commuter belt, the Chelmsford area has become an increasingly popular area for young families and first-time buyers to plant roots,” said Rick Tappenden, managing director at Marden Homes.

“We endeavour to ensure the superior quality of our work runs throughout every one of our builds, meaning our customers can look forward to leading-brand appliances, touches of luxury and beautifully crafted finishes in each room.”

Eamonn O'Rourke, director of property finance at OakNorth (pictured above), added: “We look forward to watching the site take shape over time and hope this is the start of a long-term relationship between OakNorth and Marden Homes.”

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