Hodge has completed a £1.8 million funding facility to support a valued returning customer with a land and development project in a beachside town in West Sussex. The funding supported the purchase of a brownfield site, which will be cleared to make way for the construction of nine much–needed apartments in the area.
Breathing fresh air into the local rental market
The facility, including a stretch senior funding element, will support the delivery of the development, with the completed apartments to be retained by the borrower as part of a long-term rental investment.
Located in an area with strong demand for high-quality rental homes, the development will provide nine much-needed apartments helping to increase supply in the local coastal area.
The site currently houses a derelict building, with planning permission in place to demolish and deliver a modern residential scheme. This will help transform what is an underutilised site into nine homes that breathe a new lease of life into the community.
Supporting long term partnerships
“It’s great to be working with this customer again and supporting their latest development in the South East. We’re looking forward to seeing this project progress and expect it to be the next in a long line of developments we can support them with over the coming months and years.” Gareth Davies, senior business development manager
