The £700k loan was used to develop the initial phases of 47 one, two and three-bedroomed properties in the Wrexham area, 12 of which will become affordable houses, ring-fenced for local house buyers.
Gower Homes has built over 750 houses across Wrexham, North East Wales and Cheshire over the last 24 years. The business specialises in new build homes on brown field sites and sells into the open house/flat buyer market.
With the help of the Assetz Capital loan (since repaid on schedule from house sales) building work remains underway and Gower homes is providing much needed local housing, plus employment to highly skilled local labourers. The majority of the staff, sub-contractors, suppliers and consultants are located within a 15-mile radius of Wrexham.
“I was delighted to agree a funding package with Assetz Capital. I found them to be a very professional, fast-moving organisation, which is evidenced by the fact that less than ten weeks passed between our initial meeting and first drawdown. Many claim to be supporting the SME house builders in the regions; Assetz Capital really are.”