Assetz Capital

Assetz Capital provides £2.1m CBILS loan for Linell Homes Limited

Linell Homes Limited (LHL) has secured a £2.1m CBILS loan from Assetz Capital to resume the construction of 10 residential units close to Wakefield City Centre.

The funding addressed LHL’s cashflow issues and kickstarted the development of the residential properties, after the building phase was paused due to the first national lockdown.

The facility was completed at 70% LTV for 18 months.

The £3m GDV Stanley Court development is set to complete in October 2021.

It will offer 10 high-specification three- to four-bedroom detached and semi-detached new-build residential properties aimed at growing families.

Rebecca Hall, regional relationship director at Assetz Capital, said: “We are very happy to help LHL fulfil its plans for the growth of the business and the development of these new homes. 

“It’s fantastic to see an experienced developer addressing the growing need for more housing in the UK, and there’s already been great interest in the properties.”

David Linell, owner of Linell Homes Limited, added: “Assetz Capital has done some incredible work to get this deal over the line. 

“Rebecca has given us immense support, keeping in contact throughout lockdown to secure funding for the development portion of the project.”

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