Beaufort Funds Site for 190-Home Development in St. Albans
Beaufort is delighted to announce the completion of a facility to fund the refinance and planning of a 190-home residential development site in St. Albans, Hertfordshire.
The facility will be used to refinance an existing facility on the site, and provide sufficient time for the borrower to sign the Section 106 Agreement, having already received a resolution to grant at planning committee.
It is forecast that these homes, once completed, will achieve a GDV of £140m.
The development will boast strong ESG credentials, including new bicycle, pedestrian, and horse crossings, a net biodiversity gain of over 100%, and extensive landscaping and green space throughout the site. 67 affordable homes are also planned to be delivered as part of the development.
Joe Flaherty of Beaufort Capital commented, “We are delighted to have completed this facility, supporting the provision of much needed family housing in the St Albans area.
“St Albans is a well-established and highly-desirable city, with excellent local amenities and fast connections for commuters to London.”
This transaction demonstrates Beaufort’s ongoing commitment to planning-focused facilities, as well ongoing confidence in the UK residential market. Beaufort is currently funding a number of residential projects across the UK, with a notable increase in demand in Q3 of this year.
