New homes in Oswestry thanks to Home Building Fund

News from our partners Homes and Communities Agency

The Homes and Communities Agency’s (HCA’s) Investments team has signed a £1.365m deal with SME developer Primoris Homes Limited through its Home Building Fund. The loan will support 44 new homes in Oswestry.

The homes will be built on a brownfield site which is a mix of former industrial and agricultural yard, and will require some remediation work to bring it back into use to provide these new homes. The 44 new homes will include four homes for affordable rent.

David Howell, Director of Primoris Homes Limited, commented:

“Financing the scheme was proving difficult with our bank and we were referred to the Home Building Fund. From the outset they have been very proactive and professional, which has enabled us to complete on the scheme finance in a timely manner. We look forward to working with the HBF on this scheme and would thoroughly recommend them to other house builders.”

Chris Raybould, Senior Specialist in the HCA’s Investment team in the Midlands, said:

“Supporting this development to bring this former industrial and agricultural land back into use as housing is great news for us. Since we launched the Home Bundling Fund in October 2016 we have been working with SMEs across the country to provide loan finance and are pleased to add Primoris Homes to this list to provide these much needed new homes for local people in Oswestry.”

Robert Macey, Shropshire Council’s Cabinet member for planning and regulation, said:

“One of the council’s main aims is to help deliver sustainable growth in the county – growth that meets the needs of both current and future generations of residents while also protecting our rural environment.

“Therefore, it’s encouraging that these much-needed homes are to be built, and on a site which is currently unused.”

Further information

For further information please contact Lisa Cattanach, Communications Manager – Midlands at the Homes and Communities Agency on 0115 852 6904 / 07880 475445 / email: lisa.cattanach@hca.gsi.gov.uk

The Homes and Communities Agency (HCA) is the single, national housing and regeneration delivery agency for England, and the Regulator of Social Housing Providers. Our vision is to:

• Create opportunity for people to live in homes they can afford in places they want to live, by enabling local authorities and communities to deliver the ambition they have for their own areas
• Focus on governance, financial viability and value for money as the basis for robust economic regulation that maintains lender confidence and protects the taxpayer.

Later this year, we will launch as Homes England, with a mission to create a better housing market and change places. We’re inviting the industry to help shape our priorities – get involved and let us have your views on Twitter or LinkedIn, using #ShapeHomesEngland.

The Home Building Fund is a flexible source of funding administered by the HCA on behalf of government. The Fund provides:

• Development finance – loan funding to meet the development costs of building homes for sale or rent
• Infrastructure finance – loan funding for site preparation and the infrastructure needed to enable housing to progress and to prepare land for development

Loans can be tailored to your individual circumstances.

For more information visit: www.gov.uk/hca