Kelham Central scheme in Sheffield

Aldermore lends £8.4m for ultra-low carbon development



Aldermore bank has provided a £8.4m development loan to Citu Group to finance its new Kelham Central scheme in Sheffield.

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The low-carbon property developer — which specialises in using MMC techniques to deliver high quality, energy-efficient and sustainable places — will deliver 46 residential units as part of the project.
 
The timber panels used at the Kelham sites will be manufactured at Citu’s own off-site manufacturing facility and are designed in collaboration with Leeds Beckett University.
 
Iain Bryson, head of development and specialist property at Aldermore, said: “Aldermore recognises that MMC is playing an increasingly important role in delivering the homes that the country needs.

“We’re committed to working closely with construction firms, housebuilders and property developers such as Citu to provide funding solutions for high quality, low-carbon and sustainable developments.”
 
Chris Thompson, managing director at Citu Group, added: “We’re delighted to be working with Aldermore to kickstart our next project in Sheffield.

“In the face of the climate emergency, businesses are increasingly aware of the footprints and environmental consciousness of their stakeholders.

“Banks have a large influence in directing funds towards climate-conscious projects and businesses, and we welcome the vision of Aldermore in supporting us to bring to fruition this important project.”



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