Mark Quigley, managing director at Beaufort (pictured above), told DFT that the news followed a fallow Q2 and Q3, where it “seemed lots of prospective clients waited to see how the Covid-19 pandemic would play out”.
“The hard work during the lockdown months, coupled with the pent-up demand, has meant we really hit the ground running at the start of Q4 — and we now have the momentum to finish the year strongly and also to start 2021 with this fresh impetus,” he said.
One of the facilities last month was for development-led care home operator, New Care, which required the funding for the delivery of a 70-bed care home and six residential bungalows in Adel, Yorkshire.
The ‘new generation’ care home — which has an anticipated GDV of circa £20m — will feature fully furnished private bedrooms with en-suite wet rooms, communal lounges and dining rooms, a hair dresser and nail bar, and extensive landscaped gardens.
“There is a structural undersupply of quality, purpose-built care homes all across the UK that cater to a wide range of medical needs, especially dementia,” said Joe Flaherty, director at Beaufort.
“This development will provide excellent care and amenities to the residents.”
Beaufort also provided a facility to Nicholas King Homes, a well-established developer with nearly 30 years of experience in the industry, for its new development ‘The Walled Garden’.
The scheme will comprise 20 three- and four-bedroom houses based in a semi-rural setting, and with plenty of space within and surrounding the development.
Each unit will boast private gardens within a walled garden, as well as communal landscaped space.
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The lender stated that the development will also achieve a reduction in CO2 emissions of 48.84% and energy consumption by 28.83%, thanks to the construction methods used, as well as the use of photovoltaic panels on a number of the units.
Additionally, 20% of the site’s energy consumption will be sourced from renewable technologies.
“The location of the asset surrounded by woodland on three sides should prove very attractive to potential purchasers,” commented Mark.
Nicholas King, founder and chairman of Nicholas King Homes, added: “Nicholas King Homes now have over 300 plots under construction, and I look forward to working again with the team at Beaufort very shortly on future acquisitions.”
In October, the lender also completed a working capital facility for Inland Homes’ joint venture company, Cheshunt Lakeside Developments Ltd, for the first phase of a significant mixed-use development in Hertfordshire.
The entire site, situated adjacent to Cheshunt station, and which includes the former Tesco HQ, will deliver 1,725 new homes, along with approximately 19,000 sq m of commercial space.
It also has space within this allocated for a new a two-form entry primary school.
The projected GDV of the completed project is forecast to be around £620m.
“We are delighted to have completed this transaction with Inland Homes plc building further on the relationship which was initially formed this time last year,” stated Mark.
“This will give Beaufort additional exposure to the company for a scheme which will see real placemaking in an area where people want to live and in easy walking distance of the train station, providing access to London,” he added.
The specialist lender told DFT that it anticipates that Q4 2020 will be its best-ever quarter.