Fenwood Estates, the Doncaster-based land and property development company, has secured a significant new funding line as it continues to expand and develop new sites across South Yorkshire.
The company has secured £7m funding from the St Bride’s White Rose Residential Partnership to recycle into new land opportunities in South Yorkshire over the next four years. This supports both the ongoing growth of the family-owned firm and the Partnership’s desire to invest in residential schemes with a social and economic impact.
Fenwood will now use this facility to invest in 1 to 5 acre brownfield and greenfield sites, either with or without planning consent, across Sheffield, Doncaster, Rotherham and Barnsley.
Schofield Sweeney advised Fenwood Estates. Walker Morris and Clegram advised the St Bride’s White Rose Residential Partnership.
Melissa Kroger, Managing Director of Fenwood Estates, said: “This is a fantastic vote of confidence to accelerate our plans to bring thoughtfully designed quality new homes to a greater number of buyers over the next four years.
“We’re flexible in the 1 to 5 acre sites we will consider acquiring, with the technical capability to take on sites either close to major population centres or as part of urban edge extensions – including those with difficult ground conditions.
“On a personal note, the pandemic was a difficult time for ourselves like other SME land and property developers and I’m thrilled this funding package with St Bride’s allows the business to properly look forward – continuing the proud record of our family-run business over the past four decades.”
Ian Houston, partner at St Bride’s Managers, said: “This is the second funding deal the Partnership has completed in South Yorkshire in the last six months and we are delighted to be supporting Fenwood with their growth plans to deliver quality homes in the region.
“We will continue to look at opportunities to back well-run housebuilding businesses who have a track record of delivering homes across South Yorkshire.”
Neil Terrett, director of Clegram who advised St Bride’s Managers, added: “As SME housebuilders grow they are often held back by transactional project by project lending. St Bride’s offers a true relationship-backed approach which understands the needs of the housebuilder to work on a number of sites simultaneously whilst still being able to take advantage of land opportunities. Their relationship with Fenwood will see not only private sale homes delivered but also a number of homes for private rental too.”
