Marketplace lender Assetz Capital has provided a £1.5m loan to Aspire Homes to fund the development of eight houses in Derbyshire.
The housing development, which is based in Glossop, will consist of a five-bed detached house, five four-bed detached houses and a two three-bed semi-detached houses. The development is situated on the edge of High Peak, close to local amenities and the railway station, and is due for completion in March this year.
Aspire Homes has been working in the property development sector for 30 years and is a family business working in and around the Greater Manchester and High Peak areas.
The £1.5m loan was used to fund the development of the houses, with the deal initially being introduced by broker PD-Financial.
Since 2013, Assetz Capital has lent over £965m to UK SMEs and housebuilders. As well as funding housing developments, the company also fund projects such as commercial properties, care homes and purpose build student accommodation (PBSA). The marketplace lender funded new housing projects last year representing the equivalent of 1 in every 100 new homes built.
Mark Davidson, regional director at Assetz Capital said:“It’s been an exciting process supporting Aspire Homes with this development in Glossop and I’m looking forward to seeing the completed site in March. We were keen to help Aspire in order to increase the availability of houses across the region and in turn aid the local economy by making Glossop a prosperous place to live for families.”
Paul Whitehead, managing director of Aspire Homes, said:“Working with Mark at Assetz Capital has been great throughout, he has understood our vision with the need for larger houses in Derbyshire and supported us during the entire process. Assetz Capital’s knowledge of the market and overall desire to support housebuilders has really helped us feel valued and we look forward to continuing our relationship with them in the future.”