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Downing completes c.£9M development deal for new homes
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Downing
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Investment manager Downing LLP completed a property loan in December 2021 for a development of purpose-built family homes in Buckinghamshire.
Downing is an investment management business with over 30 years of experience and c.£1.5 billion of assets under management.
The recipient of the loan is an existing developer client of Downing LLP and has an established reputation in the local area for building high specification family homes to the best energy efficiency standards. The properties will be heated using the latest energy-efficient heating systems, each house will have an EV charging point and be built to a higher energy efficiency rating than any other comparable stock currently for sale.
The brand-new homes are located in the riverside village of Bourne End which is near both popular Marlow and the market town of High Wycombe. The site of the development is currently derelict and there may be further opportunities to optimise the planning consent and construct a small number of additional homes within the location.
Chris Salter, Investment Director, Downing LLP, comments: “We’re pleased to have completed this deal with a client we know well. The partnership approach we took towards the deal ensured a smooth transaction with a great outcome for all parties. The potential for further opportunities within this project is an exciting prospect for both us and the client.”
Parik Chandra, Head of Property Finance, Downing LLP, comments:“Our funding for this latest development reflects our commitment to helping quality local developers get the support they need to continue delivering the highest standards of housing in their area. Smaller-scale residential developments have an important role to play in tackling the UK’s housing crisis while setting examples for energy efficiency and innovative design and build in today’s homes.”
