Aldermore provides £ 6.8m development finance loan

Aldermore has provided a £ 6.8m property development loan to Russell Armer Homes for its Bowland Fold housing development in Halton, Lancashire.

The development is a joint venture between Russell Armer Homes and the Housing Growth Partnership (HGP) where Russell Armer is one of HGP’s first partners to be supported under the new Regional Growth Initiative.

Phase one of the development will be comprised of 45 homes, with 13 of these being affordable housing and will include a mix of house types. In total the development will deliver 65 new homes.

David Whitehouse, property development manager at Aldermore, said: “It’s been a pleasure again to be working with both the team at Russell Armer and at Housing Growth Partnership to deliver a funding package to enable this well-located development to progress.”

Iain Bryson, head of development and property specialist at Aldermore, said: “We’re delighted to have provided this further support to Russell Armer Homes for the Bowland Fold housing development, as the company continues to deliver much needed quality homes in the region. ”

Nicky Gordon, managing director of Russell Armer Homes, added: “It is with great thanks to Aldermore and the Housing Growth Partnership for their ongoing support and assistance to enable us to deliver such high-quality housing developments, and we look forward to delivering this project for the benefit of the people of Lancashire. ”

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