The facility has been increased to £200 million and now runs to 2020. The £80 million increase in the funding facility will help the developer evolve as a “volume housebuilder” over the next four years.
Bob Weston, Chairman & Founder of Weston Homes said, “Between them the three banks have committed £160 million of funding to Weston Homes, with a £40 million accordion in place, increasing our facility to £200 million. This investment provides substantial funds for further site acquisitions and new developments. As we evolve as a volume housebuilder our strategy is to focus on outer London and the Home Counties and avoid overpriced sites in the heart of London. There remains a huge demand and undersupply of value-for-money starter and family homes across Southern England and so this is where we focus our product and sales.”