Loan approved for new homes

The loan to the developer Primoris Homes Limited through the Home Building Fund will support 44 new homes on land off North Driver at Park Hall.

The homes will be built on a brownfield site which is a mix of former industrial and agricultural yard, and Primoris says will require some remediation work to bring it back into use to provide these new homes. Theywill include four homes for affordable rent.

David Howell, Director of Primoris Homes Limited, commented: "Financing the scheme was proving difficult with our bank and we were referred to the Home Building Fund. From the outset it hsa been very proactive and professional, which has enabled us to complete on the scheme finance in a timely manner. We look forward to working with the HBF on this scheme and would thoroughly recommend them to other house builders."

Chris Raybould, Senior Specialist in the HCA’s Investment team in the Midlands, said: "Supporting this development to bring this former industrial and agricultural land back into use as housing is great news for us. Since we launched the Home Building Fund in October 2016 we have been working with housebuilders across the country to provide loan finance and are pleased to add Primoris Homes to this list to provide these much needed new homes for local people in Oswestry.”

Councillor Robert Macey, Shropshire Council’s Cabinet member for planning and regulatory services, said: “One of the council’s main aims is to help deliver sustainable growth in the county – growth that meets the needs of both current and future generations of residents while also protecting our rural environment. “Therefore, it’s encouraging that these much-needed homes are to be built, and on a site which is currently unused.”