The project — which is being undertaken by local developer Marden Homes — is being built on land which previously formed part of Channels Lake Golf Club and offers lakeside frontage and private jetties for a number of the units.

The loan is being provided for a term of three years.

“I am a huge supporter of [Marden Homes’] product and pleased to have commenced what I hope to be a long-term partnership between Marden and Beaufort,” said Steffan Goold, director at Beaufort Capital.

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“The Marden team has enormous experience and I’m looking forward to us working together to deliver its largest project to date.”

The residential developer is currently under construction on projects with a combined GDV in excess of £100m.

“We are very much looking forward to building a long-term strategic partnership with Beaufort as we look to grow Marden Homes in the years ahead,” added Rick Tappenden, managing director at Marden.

Earlier this year, Beaufort completed a development facility for a mixed-use project in York.