38 contractors have joined a £380m framework to supply and install planned and cyclical maintenance works to Scottish councils and housing associations over four years. Procurement services provider, PfH Scotland has appointed 22 regional SME firms and 16 larger national companies, including Bell Group, CCG Scotland, Easy Heat Systems, McConnell,
Birmingham-based property developer SevenCapital is making a bold move into the London residential market, with plans for a £1bn expansion across three major projects in Kensington, Islington, and the Isle of Dogs. Subject to planning approval, these developments could deliver 1,000 new homes through a combination of new builds and
Baxi is encouraging social housing providers to ensure they have robust clean heat strategies in place for both new build and refurbishment projects following funding announcements in the Spring Statement. The call follows the government’s allocation of £2 billion to support the development of 18,000 new affordable homes, half of
Round Hill Capital, a leading global specialist real estate investor, developer and manager, has recently topped out on its Fairfax build-to-rent development in central Manchester. With BTR specialist Olympian Homes acting as lead developer and RG Group as main contractor, topping out was achieved eight weeks ahead of schedule. Acquired
Prime plc has reached a significant milestone in Cornwall, achieving Financial Close on a key worker accommodation project in Truro, helping to address the critical lack of housing for key workers at Royal Cornwall Hospital. In June 2023, Steve Williamson, CEO of the Royal Cornwall Hospitals NHS Trust, highlighted the
An eight-week consultation and engagement process is now open that will gather local feedback around the principles for investment and development of the city centre fringe areas over the next decade and more. Manchester City Council (MCC) and Salford City Council (SCC) are working in collaboration on the ambitious proposals
Thousands of homes are to be made warmer and more energy efficient as part of an £80m investment secured by the Liverpool City Region Combined Authority. £31.8m will come from the Warm Homes: Local Grant fund and will be distributed to low-income homeowners and private renters. The funding was secured
In partnership with Knowsley Council and procurement specialist Fusion21, Bloor Homes has smashed its social value targets at its Elowen Garden Village development in Halsnead Garden Village, as part of the council’s planning obligations. Fusion21 has been working with Knowsley Council using its Social Value Through Planning initiative to support
CBRE Warns of Challenges of Building Safety Act on New Development CBRE has reported an excellent start to 2025 in the Build-to-Rent (BTR) market in the North with three forward funding deals totaling £420M transacting in just two weeks across Manchester and Leeds. However, the firm’s northern sector lead warns
Specialist real estate lender Pivot has successfully completed a funding package comprised of three loans for a residential development in Denby Dale, West Yorkshire. The £6.5m facility is uniquely structured to encompass three distinct loan types within a single transaction—a development exit bridge, part-complete development loan, and ground-up development facility.
38 contractors have joined a £380m framework to supply and install planned and cyclical maintenance works to Scottish councils and housing associations over four years. Procurement services provider, PfH Scotland has appointed 22 regional SME firms and 16 larger national companies, including Bell Group, CCG Scotland, Easy Heat Systems, McConnell, Procast, Sidey Solutions, Joinery and Timber Creations (JTC), and Wren Kitchens. They will provide kitchens, bathrooms, windows, doors, electrical works, roofing, painting, decorating, property refurbishment and surrounding works – including hard landscaping and fencing – to local authorities and housing associations in Scotland. The framework is structured across 12 lots and tailored to different regions of Scotland so local requirements can be addressed. Social landlords have the option to procure products only, or a one-stop route for supply of products and installation. There is also the option for full property refurbishment services. Figures from the Scottish Housing Regulator show that in 2023/24, registered social landlords in Scotland spent £945m on management and maintenance – the highest on record. Planned maintenance expenditure increased by 3.88% to £176.03m, impacted by higher costs, labour shortages and supply chain disruptions. Scottish social landlords are dealing with unexpected remediation costs for RAAC, cladding and damp and mould, along with meeting obligations under the Scottish Housing Quality Standard, fire safety regulations and decarbonisation standards; all whilst keeping rents as low as possible. Chris McGinn, commercial manager at PfH Scotland said: “When social landlords invest in planned works, it creates warm, safe, comfortable homes for their tenants, and it lowers the need for spend on reactive repairs. The problem is that higher inflation and rising prices, along with multiple competing priorities, have put huge pressure on already stretched budgets. We designed this framework with social landlords so it could offer flexible, low cost, high quality options for planned works, enabling a quick and precise match between their requirements and suppliers.” John Hepburn, regional managing director (Scotland) at McConnell commented: “We’re delighted to be appointed onto PfH Scotland’s Planned Works framework, which covers a comprehensive whole house programme for social landlords in Scotland. Our vision at McConnell is to deliver quality works to the communities we work within and that’s more important than ever with the incredibly challenging landscape that Scottish housing providers are operating in right now.” Find out more about PfH Scotland’s Planned Works framework here
Birmingham-based property developer SevenCapital is making a bold move into the London residential market, with plans for a £1bn expansion across three major projects in Kensington, Islington, and the Isle of Dogs. Subject to planning approval, these developments could deliver 1,000 new homes through a combination of new builds and conversions. The first of these projects to secure planning consent is 100 Kensington, a £500m residential development featuring 462 apartments. Standing at 29 storeys, it will become the tallest residential tower in the Royal Borough of Kensington & Chelsea. The other two projects—Klein’s Wharf on the Isle of Dogs and the Archway Campus in Islington—are currently in the planning phase, with proposals for 375 and 178 new homes respectively. SevenCapital, founded in 2009 by chairman Bal Sohal and managing director Damien Siviter, has an extensive £2.1bn portfolio of completed and pipeline projects. The company has played a key role in shaping Birmingham’s residential landscape with developments such as St George’s Urban Village, The Kettleworks, St Martin’s Place, and The Lansdowne. Now, it is turning its attention to London and the Southeast. For 100 Kensington, SevenCapital is collaborating with real estate investment manager Mark Capital Management. Designed by John McAslan & Partners with detailed plans by Corstorphine & Wright, the scheme will transform a 1.7-hectare site into 462 homes, including 186 affordable units. The development will also feature a 15,000 sq ft leisure facility, a concierge service, 25,000 sq ft of retail and office space, and a podium garden. Klein’s Wharf, located off Westferry Road and fronting the River Thames, will comprise 375 new homes across three buildings, with 40% designated as affordable housing. The site has a rich industrial heritage, having been home to Fenner’s Oil & Paint Refinery, which operated from 1856 to 1932, supplying fuel and paint for London’s docked ships. The Archway Campus development is centred on a historic Victorian hospital site in Islington. Previously owned by the NHS and later Middlesex University and University College London, the campus had been vacant for over a decade before SevenCapital acquired it. The company’s plans include restoring key historic buildings while redeveloping the site to provide 178 homes, 51% of which will be affordable. Additionally, the scheme will feature a new student accommodation building with 242 rooms. The masterplan for the site has been designed by Niall McLaughlin Architects. SevenCapital’s managing director Damien Siviter said:“SevenCapital is committed to delivering vibrant communities and sustainable schemes that enhance the lives of residents and workers. With our proven expertise in urban regeneration, we are now broadening our operations into London and the Southeast, bringing our track record of high-quality residential and mixed-use developments to the capital.” Chief operating officer James Moody added:“Our London expansion is focused on creating outstanding new homes with premium specifications and bespoke designs. Each development is carefully tailored to its location, offering buyers something truly unique. In 2025, we will launch 100 Kensington, our highly anticipated first London development, setting a new benchmark for luxury living in the capital.” With this ambitious expansion, SevenCapital is positioning itself as a key player in London’s evolving residential market, bringing its expertise in regeneration to some of the city’s most sought-after locations. Building, Design & Construction Magazine | The Choice of Industry Professionals
Baxi is encouraging social housing providers to ensure they have robust clean heat strategies in place for both new build and refurbishment projects following funding announcements in the Spring Statement. The call follows the government’s allocation of £2 billion to support the development of 18,000 new affordable homes, half of which is allocated for social housing. This funding for new build homes sits alongside the Warm Homes: Social Housing Fund in place to retrofit existing social housing and improve energy efficiency. Rob Pearse, Residential Business Director at Baxi, said: “The £2 billion set aside for social housing in the Spring Statement must be used with sustainability in mind, which includes the long-term comfort and financial security of tenants as well as electrified heating. This can be achieved by working closely with manufacturers who have expertise in the sustainable heating of social housing and a raft of solutions able to match almost any requirements. “Delivering clean heat in social housing sector can be challenging, and we intend to support providers from the earliest steps of their net zero journey. It is important to identify the system that delivers the best efficiency, cost and environmental results for the building and occupants. Working closely with experts and the wider supply chain can provide the expertise and solutions to do this successfully for both new build and retrofit.” Air source heat pumps (ASHPs) are a key route to clean heat for both new build and retrofit social housing projects, though design challenges for retrofit and skills shortages for installers can be a barrier to social housing providers. To assist the sector with implementation, Baxi has developed a broad portfolio of heat pump solutions suitable for new build and retrofit, along with extensive training, commissioning services and customer support. This includes new prefabricated pod options for new build and retrofit that bring the ASHP system into a pre-assembled unit, manufactured offsite by Baxi Packaged Solutions (BPS). Using Modern Methods of Construction (MMC) to deliver a more sustainable solution makes the installation significantly faster and simpler and removes the need for major modifications inside the home. This in turn makes low-carbon heating and hot water more accessible in social housing. For larger developments and multiple occupancy buildings, Baxi‘s expert full-service heat network team offer support with design and implementation of end-to-end solutions, including social housing developments. Where zoning policy mandates that heat networks must connect to a larger scheme, consultation with experts, such as those at Baxi, can support a smoother integration with the wider network. Rob said. “Achieving decarbonisation requires a combination of bespoke plans and expertise in heating and hot water solutions. “At Baxi, we have the range of solutions to deliver on energy efficiency and net zero targets, along with the vital experience to support social housing providers in delivering clean heat across new build and retrofit. With the funding discussed in the Spring Statement, we are encouraging all social housing providers to stay ahead of the curve by exploring the solutions available for their projects.” For more on how to decarbonise social housing properties, see Baxi.co.uk. Building, Design & Construction Magazine | The Choice of Industry Professionals
Round Hill Capital, a leading global specialist real estate investor, developer and manager, has recently topped out on its Fairfax build-to-rent development in central Manchester. With BTR specialist Olympian Homes acting as lead developer and RG Group as main contractor, topping out was achieved eight weeks ahead of schedule. Acquired via a forward funding agreement in August 2022, the development, one of the largest in the central Manchester area, totals 488 one-and-two-bed, high quality apartments across two buildings, of 29 and 23 storeys respectively. Residents will benefit from exceptional amenities including a gym, 24-hour concierge, co-working space and roof terrace with panoramic views of the city skyline. Due to achieve practical completion in early 2026, the asset will be operated by Round Hill Capital and Allsop. Serving as the gateway to the Portugal Street East masterplan regeneration area, the project is less than a kilometre from the city centre. Appealing to a wide demographic of young professionals, families and students, the development is located next to Piccadilly Station, the largest train station in the city, which provides excellent connectivity across the region and wider UK. The scheme is on track to achieve a BREEAM Very Good certification. In line with Round Hill Capital’s commitment to embedding technology in its business and its focus on sustainability, Utopi has been engaged to provide accurate tenant meter data in order to assess the environmental impact of the buildings, positively engage with the future residents, and deliver insightful environmental reporting to Round Hill Capital stakeholders. In 2024, Round Hill Capital secured a £115 million development loan from global investment firm Carlyle (NASDAQ: CG) to fund the construction of Fairfax. With higher-than-average annual GDP growth of 2.2% forecast over the next five years and a growing population, Manchester will require over 170,000 new homes by 2038, with only 70,000 planned or underway, positioning the UK’s largest regional urban centre as an attractive location for investment in high quality rental homes.* Tom France, Head of Acquisitions UK, Round Hill Capital, commented: “Fairfax is our prime, flagship UK build-to-rent development, and just one example of the high quality, sustainable homes in our established pan-European Living platform. Reaching the highest point in the construction ahead of schedule is a fantastic achievement and testament to the collaborative efforts of everyone involved in the project, including the Round Hill Capital team, Olympian Homes and RG Group, all of whom share a commitment to delivering much needed rental homes in central Manchester, where housing supply is still not meeting demand. Manchester is a sought-after location in the UK, attracting young professionals and students and where technology, engineering, manufacturing and pharmaceutical businesses are thriving, creating a huge investment opportunity.” *Sources: Colliers’, UK’s Top UK Residential Investment Cities report / Savills, “Why invest in Manchester” Autumn 2023 report. Building, Design & Construction Magazine | The Choice of Industry Professionals
Prime plc has reached a significant milestone in Cornwall, achieving Financial Close on a key worker accommodation project in Truro, helping to address the critical lack of housing for key workers at Royal Cornwall Hospital. In June 2023, Steve Williamson, CEO of the Royal Cornwall Hospitals NHS Trust, highlighted the growing housing challenges faced by hospital staff, which directly impact recruitment and retention, posing long-term risks to maintaining quality care for the community. Prime, a specialist in health and care development, is now working with the Trust to deliver this much-needed key worker housing. The first development site has been identified on Tresawls Road, which has planning permission to deliver 89 new beds for key workers. The site is within walking distance of the hospital and completion of the scheme is targeted for January 2027. This project is part of a broader initiative, and Prime is committed to working long-term with the Trust to identify additional development sites to meet current and future demand. The Tresawls Road site will provide 22 units across 3 blocks of new purpose-built residential accommodation, offering a total of 89 beds arranged in 3, 4 and 5-bed apartments. Nevada Construction Limited have been appointed as the main contractor. Ella Ballatti Stracey, Chief Performance, Partnerships and Transformation Officer at Royal Cornwall Hospitals NHS Trust, said: “The key worker accommodation project is fantastic news for RCHT. Cornwall faces significant housing challenges, which many of our colleagues will have experienced firsthand. These challenges have had a direct and definite impact on issues around recruitment and retention, putting a greater demand on colleagues who provide such an integral role delivering care for our patients and community. “All of us at RCHT are incredibly pleased to see key worker accommodation now being provided so close to our Royal Cornwall Hospitals site. We hope this development, along with the promised 35% affordable homes being offered as part of the new Langarth Garden Village, will pave the way for more opportunities to provide sustainable, secure accommodation to our key workers, both from RCHT and the wider public services.” Leighton Chumbley, Chief Executive at Prime, said: “We are thrilled to reach Financial Close on this vital project. The key worker housing initiative in Truro is a testament to our commitment to supporting NHS staff and enhancing community wellbeing. “By providing high-quality accommodation, we aim to improve the lives of those who dedicate themselves to healthcare, ensuring they have a comfortable and convenient place to live.” Prime aims to collaborate closely with end-users and the local community to ensure the delivery of the right facilities in the right locations. Beyond addressing immediate accommodation needs, Prime is committed to creating long-term social value, including employing local workers and using local suppliers to support the economy. The support of the community in reaching and understanding local needs is invaluable, and this effort is crucial to securing the future of NHS services in Truro, strengthening Cornwall as a place to live and work. Building, Design & Construction Magazine | The Choice of Industry Professionals
An eight-week consultation and engagement process is now open that will gather local feedback around the principles for investment and development of the city centre fringe areas over the next decade and more. Manchester City Council (MCC) and Salford City Council (SCC) are working in collaboration on the ambitious proposals that could see 7,000 new homes built across seven distinct neighbourhood areas, which could support 4,500 jobs. The Draft Strategic Regeneration Framework (SRF) for Strangeways and Cambridge has already been heard by both Council’s respective Executive and Cabinet committees, and local people, businesses and other stakeholders are now invited to share their thoughts on the plans. Consultation People can provide feedback online (strangewaysandcambridgesrf.info) and in-person events will also be held for respondents to ask questions and find out more about the long-term regeneration proposals, which will also include refreshments and activities for families. Salford – Broughton Community Centre, Great Clowes Street, Salford, M7 1ZQ Salford – Broughton Community Centre, Great Clowes Street, Salford, M7 1ZQ Manchester – The Yard, 11 Bent Street, Manchester, M8 8NF Salford – Broughton Community Centre, Great Clowes Street, Salford, M7 1ZQ Salford – Broughton Community Centre, Great Clowes Street, Salford, M7 1ZQ Manchester – The Yard, 11 Bent Street, Manchester, M8 8NF Manchester – The Yard, 11 Bent Street, Manchester, M8 8NF The consultation will close on Monday 26 May 2025 after which the results will be reported back to MCC Executive and SCC’s cabinet committees. Leader of the Council Bev Craig said: “This framework is our shared long-term vision, alongside our colleagues in Salford, to deliver a transformation in the Strangeways and Cambridge communities. “We have an opportunity to create a platform for development and investment, enabled by the successful work carried out by the Operation Vulcan partnership, to support businesses to grow and prosper in these neighbourhoods – creating thousands of new jobs and support the ongoing growth of our city – alongside a major new public park and new homes, including Council, social and genuinely affordable housing. “We know this area has challenges, including the prison that presents a key barrier to the regeneration of the area, but we also know that there is energy and a community brimming with potential. “We will deliver huge change in Strangeways in the coming years, working alongside the people who live and work there, and as we move to consultation in the coming weeks, we want to speak to local people and businesses about how we can make this part of the city thrive.” Salford City Mayor, Paul Dennett added: “We’ve been on a journey of growth and regeneration in recent years, and our work has changed the landscape in different parts of Salford for the benefit of our residents. It’s now time to focus on the Cambridge area and working with colleagues in Manchester, this framework provides us with a once in a lifetime opportunity to do that. “This framework proposes options for the Salford part of the SRF, taking into account the requirements of residents and local businesses, and the need for quality housing in the area. The key will be to balance these needs with what the long-term flood data is telling us and how we future-proof the area against climate change. “The proposals in the framework seek to identify the best possible options for this area. These include the exciting opportunity to create a new city park for all, with an option for appropriate levels of mixed-use development, to continue to drive sustainable growth. “I’d urge everyone with a vested interest in this area, whether you’re a resident or business to engage with the consultation process and work with us help shape the future of this part of the city.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Thousands of homes are to be made warmer and more energy efficient as part of an £80m investment secured by the Liverpool City Region Combined Authority. £31.8m will come from the Warm Homes: Local Grant fund and will be distributed to low-income homeowners and private renters. The funding was secured by a Combined Authority-led consortium of Liverpool City Region’s six local authorities – Halton, Knowsley, Liverpool, Sefton, St Helens and Wirral – and was the third highest award in England. A further £48m has been secured through the Warm Homes Social Housing Fund which will be distributed among 24 housing associations operating in the city region and the wider north west. The award was the fourth highest in England and work is expected to start in the summer. The investment – which will enable energy-efficiency improvements to around 10,000 homes – is part of a five-year carbon action plan to make the city region net zero by 2035. It comes on top of £105m already secured by the Combined Authority to retrofit 10,000 homes with energy-efficiency upgrades including wall and loft insulation, new roofs, solar panels, heat pumps and ventilation. Mayor of the Liverpool City Region Steve Rotheram said: “Too many families are still forced to choose between heating and eating – and that’s simply not right. This investment from government is a welcome step towards fixing that, with more than £31m going to low-income households in our region and another £48m to support social housing residents. “Here in the Liverpool City Region, we’ve already invested over £100m to improve the energy efficiency of more than 10,000 homes – cutting bills, reducing carbon emissions, and tackling fuel poverty. This latest funding builds on that progress, helping even more people stay warm for less. And I’ll keep working with government to make sure our region gets the investment it needs, so no one is left behind.” Households with an energy inefficient home (Energy Performance Certificate Band D or below) and living in certain postcodes will be automatically eligible for the local grant scheme. Grants can also be accessed by households with an annual income of less than £36,000, who own their own home or for certain privately rented properties. Cllr Graham Morgan, Cabinet Member for Housing and Regeneration, said: “More than half of our region’s 720,000 homes are rated below the EPC band C standard, which makes them less efficient and more expensive to heat. We’ve secured this latest funding thanks to our track record of working with government and partners to deliver large scale retrofit projects. This significant investment means that thousands of local people will pay less to heat their homes in future.” Building, Design & Construction Magazine | The Choice of Industry Professionals
In partnership with Knowsley Council and procurement specialist Fusion21, Bloor Homes has smashed its social value targets at its Elowen Garden Village development in Halsnead Garden Village, as part of the council’s planning obligations. Fusion21 has been working with Knowsley Council using its Social Value Through Planning initiative to support the delivery and monitoring of social value throughout the construction phase of the development. The collaboration between Bloor Homes, Fusion21, and Knowsley Council has delivered a range of positive outcomes for the community, achieving three headline social value outcomes in the local area including: The 11 employment opportunities created are helping to fill key roles at Elowen Garden Village as part of the Halsnead Garden Village development, including a local National House Building Council (NHBC) inspector, ceramic tiler, groundworker, joiner, sales advisor, and six bricklayers. This has achieved the social value aim of increasing the amount of Knowsley residents working on-site at the Bloor Homes development. What’s more, two local young people who started as apprentices on the development have now been hired as full-time bricklayers. A primary focus of this collaboration was to create more opportunities for local residents that will lead to quality full-time employment. Sarah Maguire, Head of Social Value at Fusion21 said: “At Fusion21, we work with local authorities and developers to ensure construction projects create meaningful, sustainable, and long-term benefits for communities. “Through this partnership, Bloor Homes has provided jobs, apprenticeships, and opportunities that will have a lasting impact on local people and businesses in Knowsley. This is exactly the kind of positive change Knowsley Council champions through its Social Value Framework.” James Clark, Managing Director at Bloor Homes’ North West region, said: “We are proud to have exceeded our social value targets in Knowsley, and it has been very rewarding to welcome so many local people and businesses into our team at Elowen Garden Village. We will be continuing our work experience scheme into 2025 and look forward to welcoming more young people to learn about the high standards of building we have at Bloor Homes.” Cllr Tony Brennan, Cabinet Member for Regeneration and Economic, said: “Construction of new housing at Halsnead Garden Village is not only creating much needed new homes it is also providing employment and apprenticeships for Knowsley residents and creating supply chain contracts for Knowsley businesses. Additionally, the employment site to the south of the M62 will deliver around 1,000 new jobs. “Halsnead Garden Village is the largest combined housing and employment development in the City Region and will provide a significant boost to the local economy.” Part of the wider Halsnead Garden Village development, Bloor Homes’ Elowen Garden Village development includes a range of three and four-bedroom homes located on Windy Arbor Road, with a sales centre open daily from 10am – 5pm. For more information about Bloor Homes’ developments in the North West, visit bloorhomes.com To find out more about Knowsley Council’s Social Value framework, visit www.knowsley.gov.uk To find out more about how to unlock the potential of social value through planning visit www.fusion21.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
CBRE Warns of Challenges of Building Safety Act on New Development CBRE has reported an excellent start to 2025 in the Build-to-Rent (BTR) market in the North with three forward funding deals totaling £420M transacting in just two weeks across Manchester and Leeds. However, the firm’s northern sector lead warns that the Building Safety Act (BSA) is a major challenge; impacting transactions and ultimately new homes delivery, representing the single biggest barrier to building in city centres. The two stand out deals to complete in recent weeks include the acquisition of the 51-storey, 494 apartment development in Renaker’s New Jackson area of Deansgate, Manchester by a partnership between L&G, Nest and PGGM. Known as F1, the development is currently underway. In Leeds, Property investment management firm Barings agreed the £152M forward funding deal with Glenbrook for a 600 apartment mixed-use scheme at Kirkstall Road in Leeds. The commonality between these two forward funding deals is that they were both already implemented ahead of the new Building Safety Act Gateway 2 regime, which affects the construction of higher-risk and large-scale buildings. Head of Residential Investment, North at CBRE, Tom Sinclair (pictured), explains; “With BSA compliance now being mandatory for developers and building owners, and whilst the construction sector adjusts, there are significant challenges ahead. All projects must now navigate three critical safety gateway check points, meaning that approval is required at the planning stage, before building work can commence and before a building can be certified complete and occupied. “The two significant transactions we have concluded in recent weeks were already implemented before the Act came into force and as a result we will see the delivery of much-needed new homes in Leeds and Manchester. Whilst many viability constraints on funding deals can be overcome with creative solutions, the Gateway 2 approval may have a major cost and time impact on future strategic funding deals of this scale, due to lengthy delays being imposed by going through the system. This will further compound challenges in the market, restricting delivery of new homes.” Sinclair continues; “For schemes that can successfully navigate the Gateway process, we are seeing proven investor demand for Build to Rent developments in all regional markets. Indeed, the contraction in anticipated supply of new developments and consequential lack of new rental options is anticipated to drive strong occupational demand and investment performance. In the meantime, we are working with Developers across the region to optimise funding structures that mitigate the impact of the BSA regulations and present developments in a manner that work for both Investors and Developers to enable new forward funding agreements and seed the delivery of new homes. Building, Design & Construction Magazine | The Choice of Industry Professionals
Specialist real estate lender Pivot has successfully completed a funding package comprised of three loans for a residential development in Denby Dale, West Yorkshire. The £6.5m facility is uniquely structured to encompass three distinct loan types within a single transaction—a development exit bridge, part-complete development loan, and ground-up development facility. This innovative funding solution enables the borrower to refinance an existing lender, support the completion of partially built units, and provide capital for the new construction of a 34-home residential development. The case was introduced by a broker who chose Pivot because of its ability to structure the deal as three transactions across the different loan types to maximise leverage and consider the varying stages the site was in. The funding package was structured as follows: This holistic approach ensures that the borrower can efficiently manage sales, complete construction phases, and maintain momentum in delivering high-quality homes. The lender has cultivated a reputation for deal structuring that considers the true SME developer experience—several of the Pivot team have built and sold properties and have a genuine understanding of the inherent opportunities and pitfalls that come with the job. Andreas Yianni, Commercial Director at Pivot Finance, said: “This transaction highlights our ability to shape funding solutions that address multiple stages of a development in one seamless package. “By incorporating a blend of development exit, part-complete, and ground-up funding, we have provided the borrower with a flexible and strategic solution to support their project through to completion. “It’s a great example of how we tailor our lending to meet the real-world needs of developers.” Pivot has enjoyed an incredible start to the year with as raft of new hires, increased funding capacity, and a vocal commitment to supporting ambitious SME developers who need reliable bridging and development finance to bring forward their sites. Building, Design & Construction Magazine | The Choice of Industry Professionals
