£12.5m funding boost for Cheadle’s Barnes Hospital scheme

Property developer Henley Homes is preparing to deliver a multi-million pound housing scheme in Cheadle after signing a £12.5m funding deal with NatWest.

The £55m development will create 155 apartments, townhouses and family homes on the 16.5-acre former Barnes Hospital site, breathing new life into the Gothic Grade II-listed building by transforming its interiors into modern residential accommodation.

With building work already underway on the 16.5-acre, the project’s first completions are due this autumn.

Henley’s chief operating officer, Joseph Donkor, said: “The scheme at the former Barnes Hospital has been created to regenerate the area and bring a wonderful historic building back to life and regenerate this key area for the benefit of the local community.

“The former hospital is an amazing building and it is great to be able to save it for future generations.”

He continued: “Henley has begun transforming it into 38 unique apartments and townhouses, retaining original features wherever possible, including decorative external brickwork, arched windows and some double-height internal spaces.

“We chose NatWest as our funding partner as we were impressed with the bank’s Real Estate team and their knowledge of the local area. Local expertise is crucial to developing a project a like this and NatWest provided excellent support.”

London firm Henley Homes has been a NatWest customer for over 12 years.

NatWest’s Manchester-based head of real estate finance, Heath Thomas, commented: “Henley is creating a fantastic housing development in the heart of Cheadle which will enhance the local area and bring a historic building back into use.

“We were delighted to support Joseph and the team at Henley on this project and look forward to working with the business in their future business growth aspirations.”

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