Investment manager Downing LLP has expanded its client base with a £12.4 million development loan to renovate an existing farmhouse and convert agricultural buildings.
The deal with a new client based in Whichford near Shipston-on-Stour in Warwickshire will provide high-end residential units.
Following the renovation and conversion, the development will include three-bed, four-bed and five-bed family units.
The properties will be heated using the latest energy-efficient heating systems, and each house will have an EV charging point and be built to the highest energy efficiency rating.
Parik Chandra, Partner and Head of Specialist Lending, Downing LLP said: “Downing is focused on supporting the needs of SME developers and helping them to complete deals wherever possible.
The latest example of funding support from Downing LLP reflects the team’s continued commitment to helping smaller-scale developers access the finance they need to deliver a diverse range of housing and property developments.
By providing the financial support to restore and convert under utilised buildings, we believe we are responding directly to the demand for a variety of housing types in the area.”