Funding unlocks Yorkshire housing development

A property developer has secured flexible funding to acquire development land, paving the way for new homes in North Yorkshire.

Reward Funding has provided a six-figure facility to Dusk Property to support the purchase of a site near Boroughbridge, where plans are in place for two residential plots.

The deal, introduced by broker Tim Wilde of BSH Consulting, follows the granting of Reserved Matters planning approval. 

The funding has been structured to enable Dusk Property to complete the land acquisition quickly, alongside additional investment from the developer.

Dusk Property is a new venture led by building surveyor Adam Cliff, who has successfully completed and sold three residential developments over the past five years with support from his father, Andrew Cliff.

Andrew, a chartered building surveyor and experienced property developer, has an established relationship with Reward Funding, having previously provided professional advice and appraisals on projects supported by the lender.

The bridging facility will allow the business to secure the site before moving to a longer-term development finance package, reflecting growing demand from developers for funding solutions that enable them to act quickly when opportunities arise.

Adam said: “We had a strong opportunity arise, so timing and speed were two very important factors for us with this project.

“We know how Reward operates and had the confidence that they would be able to deliver what we needed, when we needed it. 

“Having worked with the team previously, there was an established level of trust and understanding which helped to make the process straightforward and efficient.”

The latest transaction also strengthens the relationship between Reward Funding and Dusk Property, with both businesses expecting to work together on future residential development projects as the developer continues to expand its portfolio.

Anthony Cope, client relationship manager at Reward Funding, added: “This deal is a great example of how strong relationships can help to create better outcomes. 

“Experienced property developers are increasingly looking for funding partners that can access opportunities quickly and provide certainty around delivery. 

“Pair with this the increased need for flexibility that we are seeing from more clients, and it really brings to light why a funding partner that can move decisively when timing matters is key.” 

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.