Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Stewart Milne Homes in £13m funding boost

L-R: Paul Challinor MD Stewart Milne Homes North West, Terry Errington head of structured real estate finance, Homes England and Neil Washington, finance director Stewart Milne Homes North West at Wrea Brook Park
L-R: Paul Challinor MD Stewart Milne Homes North West, Terry Errington head of structured real estate finance, Homes England and Neil Washington, finance director Stewart Milne Homes North West at Wrea Brook Park

Stewart Milne Homes (SMH) said this week it had secured an additional £13 million from Homes England to accelerate developments south of the border.

This latest funding follows an award of £11.5m two years ago and takes the total number of new homes being delivered by the ongoing partnership between SMH, based in Westhill, Aberdeenshire, and Homes England to nearly 1,000.

SMH will use its fresh cash injection to support housebuilding across eight north-west England developments in Alsager, Broughton, Chester, Congleton, Hooton, Prescot, Warton and Willaston.

The developments feature a balanced mix including affordable homes and are at various stages, with Callenders Green in Prescot due to complete this month and Broughton Park expected to start within weeks.

SMH North West managing director Paul Challinor said: “The construction industry can play a major role in getting the economy back on its feet after lockdown.

“It’s crucial in terms of supporting jobs and the supply chain, as well as closing the gap between supply and demand for homes.

“As we emerge from lockdown, private, independent developers like ourselves will find it even more challenging to make the up-front investment required to close that gap.

“The Homes England funding enables us to accelerate the delivery of outstanding new communities for local residents and help the UK Government meet its housing targets.”

SMH secured the loan from the £3 billion Home Building Fund, which aims to increase the number of new homes being built across England to 300,000 annually.

Mr Challinor said: “Securing the funds is testament to the strong relationship we’ve built with Homes England over a number of years.”

Terry Errington, head of structured real estate finance, Homes England, said: “Our relationship with Stewart Milne Group continues to strengthen and we are pleased to advance additional loan funding to deliver much-needed open market and affordable homes.”

SMH establised its north-west England division in 2006 as it sought to tap into opportunities well beyond its Scottish heartland.

Mr Challinor said: “Having experienced rapid growth in the north-west in recent years, we have become a recognised brand in the region, with a reputation for delivering quality, family homes in desirable new communities, with a focus on craftsmanship and very high design specifications.”

Already a subscriber? Sign in

[[title]]

[[text]]