Tue 5 Aug 2008
Belstone Homes – South East
Belstone Homes, the commuter belt developers, have negotiated an extended line of credit to allow them to build up a sizeable ‘Opportunity Fund’ designed to take advantage of current market conditions.Kevin Davies, Belstone Home’s development director commented: “The current uncertainty in the housing market has provided Belstone Homes with a superb opportunity to increase the size and reach of our business by securing sites for quality family housing where we know there is still strong demand for our product.
In the past few weeks we have secured sites with a combined GDV of approx £40 million and whilst the larger housebuilders are still out of the market, further funds have been made available to enable us to move rapidly when opportunities arise. We are also working closely with a number of financial institutions to help them manage their way through difficult sites where borrowers have defaulted.”
Belstone is an independent, privately owned company developing commercial and residential properties ain and around Hertfordshire, Buckinghamshire and Middlesex.
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