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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Secure Trust Bank PLC    STB   GB00B6TKHP66

SECURE TRUST BANK PLC

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Secure Trust Bank : Luxury house builder gets backing from Secure Trust Bank

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10/01/2020 | 09:35am EDT

Luxury house builder Zafiro Homes has secured loans totalling £4.4m from Secure Trust Bank Real Estate Finance (STB REF) to fund the development of four new homes in Beaconsfield, Buckinghamshire.

Buckinghamshire-based Zafiro will build three £2m+ Arts and Crafts-style detached homes at The Pines, in Woodchester Park. The development will be funded by a £3.69m advance from STB REF.

At Howe Drive a single 4-bedroom home - Woodside Place - will be built, backed by a £738,000 loan.

Zafiro Homes specialises in building exclusive homes in the £1.5m - £5m price bracket in the South East of England.

Mickey Garner, director at Zafiro Homes, said: 'We have a pipeline of high value homes, whether in construction, planning or under options. At any one time we can have a lot of cash tied up in work in progress, planning and site acquisitions.

'The STB REF team has been very supportive, understanding quickly how our business operates and providing working capital to enable us to get the Beaconsfield projects underway at a time of high demand for this type of property.'

Secure Trust Bank's real estate team provides lending facilities of £1m-£45m to residential and commercial property developers and investors, from SME housebuilders to UK-based funds. The bank has committed £100m specifically to assist SME housebuilders and property developers to get their projects off the drawing board and on to site, with flexible loans of £1m - 5m.

Richard Nowell, senior relationship director at STB REF, said: 'There remains high demand for good quality, well located homes across the country, yet considered smaller house builders often struggle to obtain finance. We are delighted to have been able to support Zafiro Homes. We are very keen to support this sector to deliver new homes and at the same time preserve jobs and skills in the housebuilding sector.'

Disclaimer

Secure Trust Bank plc published this content on 01 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2020 13:34:04 UTC


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Sales 2020 165 M 215 M 215 M
Net income 2020 5,13 M 6,69 M 6,69 M
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