Clarke Willmott advises Wyatt Homes on multi-million funding package
National law firm Clarke Willmott has advised developer Wyatt Homes on a multi-million pound finance package to build 1,000 new family homes across the south of England.
The funding comes from HSBC UK and Homes England, the government’s housing and regeneration agency. The Home Building Fund is among the ways the agency works with the private sector to deliver on the Government’s mission to build 1.5 million homes this parliament.
The package will enable Poole-based Wyatt Homes to build more than 300 homes a year across Dorset, Hampshire, Somerset and Wiltshire. It follows a similar package in 2022 to facilitate the building of 1,000 homes and will include the delivery of affordable housing.
Clarke Willmott’s team on the transaction was led by Cardiff-based banking and finance partner Bethan Evans and included associates Sally Grech and Harvinder Kandola, and paralegal Ayesha Davies.
Nigel Barclay, director of loans at Homes England, said: “Supporting Wyatt Homes’ ambition to grow housing delivery to over 300 homes per year across developments in Dorset, Hampshire, Somerset and Wiltshire is an excellent example of how the agency’s Home Building Fund can be deployed alongside private sector capital from HSBC UK, to deliver high quality new homes in priority locations while supporting the growth of small and medium house builders, that are crucial to building a diverse and resilient housing sector.”
Shaun Pettitt, managing director at Wyatt Homes, said: “This funding is a pivotal step for us, as we look to scale up and bolster the delivery of hundreds of new homes. Our commitment to quality of design and high standards of construction remains unwavering as we expand our operations through the delivery of a significant pipeline of new developments.”
Dan Wright, head of housing at HSBC UK, added: “Having supported Wyatt Homes over the past five years, we’re thrilled to continue backing its growth journey. This substantial finance package will bolster the business’s operations, enabling it to increase its annual output and address the urgent need for housing in the South of England. Additionally, the financing strengthens our expanding partnership with Homes England to support housebuilding across the country.”
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