House builder lands £29m funding deal from Homes England

Kingswood Homes has secured a new £29m, 4-year multi-site facility from Homes England that will see them continue their search for new sites across the North West.

The £29m doubles the existing facility the house builder has with Homes England and will support the Little Hoole-based company through the current challenging economic times.

Paul Jones, managing director of Kingswood Homes said: “The industry is dealing with pressure from all angles; static house prices, rising inflation impacting on labour and materials, along with higher borrowing costs, all of which are squeezing margins. This new facility will put us in a really strong position to continue to grow over the coming years.

“We have held back from the land buying market over the last 12 months due to the market feeling overheated, but I am pleased to say we are now moving forward and are hoping to secure sites across the North West.”

Kingswood Homes is looking for land opportunities across Lancashire, Merseyside, Cheshire, Greater Manchester and requirements include greenfield or brownfield sites of two acres or more, with or without planning permission.

Kingswood is currently building homes in Feniscowles, Elswick and Hoddlesden as well as in Hatherleigh in West Devon.

Instead of mass-producing ‘identikit’ homes with fixed floor plans, Kingswood offers buyers the flexibility volume housebuilders usually can’t with its industry-leading Shape Your Home concept.

Customers select the external design and footprint of their home, then choose from a range of internal layout options – perhaps opting for bigger bedrooms, more bathrooms, open plan living or adding a study. The result is that Kingswood homeowners have a bespoke property that suits them.

By Mark Adair – Correspondent, Bdaily