LendInvest Mortgages has announced funding for a new housing development in Isleworth, agreeing a £4.54m facility that will support the construction of nine residential homes.
The development will include one 4-bedroom detached house and two sets of 3-bedroom semi-detached properties.
The client, an experienced developer and a new borrower to LendInvest, will also use the facility to purchase the parcel of land, which is currently vacant aside from one building scheduled for demolition ahead of construction.
The site is in a high-demand location adjacent to a train station, and the completed homes will include parking spaces with access to EV charging points.
LendInvest said the project aligns with wider demand for new housing in established residential areas and supports experienced SME developers bringing forward high-quality schemes.
Steve Larkin, managing director for development at LendInvest, said: “This project is a great example of a property developer with the vision to transform vacant land into an opportunity.
“These 9 new homes will add to the vitality of the area, as its proximity to a train station, shopping and a local park will be a draw for future homebuyers.
“During a time when new high-quality homes are needed throughout the UK, SME developers are ready to deliver.
“Since LendInvest’s first development deal nearly 10 years ago, we have always been committed to supporting SME developers throughout the entirety of their project, and this facility reaffirms that.”
