Development finance lender Atelier has completed a £5.1m ground-up development loan to fund the construction of 15 family homes in Walton, West Yorkshire.
Structured over a 24-month term at 70% loan-to-gross-development-value (LTGDV), the facility will enable the developer to deliver 15 new homes on a 3.2-acre greenfield site.
The homes will comprise a mix of properties; including private sales and an element of affordable and first homes, which will address strong local demand for family housing.
With planning delays resolved, the borrower was keen to move swiftly to site.
Atelier structured the facility with a variable interest rate and no floor, allowing the borrower to benefit immediately and fully from any future reductions in the Bank of England base rate.
The development is expected to complete in late 2026, with sales providing the exit strategy.
Raj Hothi, lending manager at Atelier, said: “We were pleased to support our client on another high-quality project.
“With this loan, it was important to move quickly — and our team worked at pace to structure a facility that gave them the flexibility and cost-efficiency they needed.
“We look forward to seeing the development take shape over the coming months.”
Darran Clemmit, director at PDS Construction, added: “After delays in gaining planning, we were keen to get on site as quickly as possible.
“Having worked with Atelier before, we knew they could move quickly — and they didn’t disappoint.
“The terms were strong, and the variable rate means we’ll benefit immediately from any reductions in the base rate, which we expect to see over the next 18 months.
“It’s great to be working with the team at Atelier on another project.”
