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Leonard Curtis secures £3.85m funding deal for residential development
Leonard Curtis has secured a £3.85million development finance deal for Stanton Developments, paving the way for the delivery of 16 new homes in Findern, South Derbyshire.
Stanton Developments is a privately-owned developer based in Derby which focuses on high quality residential projects. Recent schemes include the renovation of a former pub and the development of seven exclusive homes in Melbourne, Derbyshire.
The deal accelerates the next phase of development at the site, supporting the delivery of additional much-needed homes, and underlines lender confidence in Stanton Developments and its track record in bringing forward well-designed residential schemes.
Working closely with the developer and the lender, Hampshire Trust Bank, the Funding team at Leonard Curtis secured a structured development finance deal that has been tailored around the project’s build costs, timescales, and sales strategy. By carefully aligning the funding terms with the scheme’s cash-flow requirements, the team has played a key role in turning the developer’s plans into a deliverable, fully funded program of works.
Sarah Hewitt, Head of Commercial Real Estate within Leonard Curtis’ Funding team, said: “We’re delighted to have supported Stanton Developments on this project. Their commitment to high-quality residential development gave us a strong foundation to structure the right funding solution, enabling the delivery of 16 much-needed new homes. This deal reflects the value of close collaboration between developer, lender and advisors and we’re pleased to have helped bring the project forward.”
Andrew Turner, Director at Stanton Developments, said: “We have been delivering homes around Derby for over a decade and, having built a reputation for high-quality, aspirational homes, it was time to take the next step.
“Leonard Curtis helped us to get a stable footing on the next stage of our evolution by brokering this deal with Hampshire Trust Bank. For mid-tier house builders like Stanton Developments, it is challenging to scale up but Sarah Hewitt and her team show deals like this can be done with the correct support.”
He continued: “We employ around 20 people directly - groundworkers, bricklayers, carpenters - all of them living within a 10 mile radius of the site. Being able to sustain that level of local employment and serve the economy with jobs as well as new homes is a major part of who we are.”
Leonard Curtis was introduced to Stanton Developments by Lloyd Housten of Derwent Financial Planning.
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