Wyatt Homes set to expand across southern England with £45m backing
Homes England and banking giant HSBC have announced a £45m joint funding package to build 1,000 homes with a small housebuilder over the next five years.
Under the deal, Homes England will contribute £15m in a five-year junior loan ‘mezzanine’ facility, which will sit behind a longer-term £30m facility from HSBC.
The funding will help Wyatt Homes, a £22m-turnover housebuilder, to ‘accelerate delivery’ of 1,000 homes across Dorset, Hampshire and Somerset.
Around three in 10 of the homes built will be for affordable tenures.
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Hadyn Beazer, finance director at Wyatt Homes, said: “Getting the right level of funding has been challenging for SMEs in recent years.
“We look forward to working with both HSBC UK and Homes England to unlock our exciting pipeline projects and then deliver great homes over the next five years.”
Hugh Taylor, head of housing at HSBC UK, said: “Wyatt Homes is an established South West house builder with a reputation for delivering quality homes. “The business has ambitious growth plans
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