Atelier provides £19.9m loan for 57 new homes in Devon

Atelier has completed a £19.9 million peak debt development facility to fund the construction of 57 new homes near Westward Ho! in North Devon. The 36-month loan is intended to support a diverse mix of 11 different house types, including detached bungalows, three-storey detached houses, and two-bedroom terraced homes.

The development will consist of 48 homes for private sale and nine affordable homes. According to project representatives, 22 of the homes have already been reserved. The financing was structured on a peak-debt basis to provide a funding solution that aligns with the actual delivery and sale stages of the development.