Bank gives financial backing to venture investing in housing-led schemes for South-eastern brownfield sites
An £80m venture has been set up to invest in housing-led mixed-use schemes on brownfield land in London and the South-east.
West Midlands-based commercial developer Catesby Property Group has received backing from HBOS for the venture, which will invest £80m in development opportunities.
Catesby said it would focus on mixed-use schemes comprising private, affordable and student housing, as well as its traditional employment-led developments.
Paul Brocklehurst, group chief executive at Catesby, said the venture had “substantial committed funding” to buy regeneration and sustainable development sites.
“We are keen to extend the Catesby brand into London and the South-east, where the prevailing market conditions will create opportunities for well-funded companies,” he said.