Atelier has completed a £19.9m peak debt development facility to fund the construction of 57 new homes near Westward Ho! in north Devon. The loan, structured over a 36-month term, will enable the development of 48 homes for private sale and nine affordable homes.
The development offers a broad mix of 11 different house types, including two-bedroom terraced homes, three-storey detached houses and detached bungalows. Twenty-two of these homes have already been reserved.
Harley Stairmand, lending manager at Atelier, said: “This was a complex transaction that required careful structuring from the outset. We structured the facility on a peak-debt basis, which included a significant Day One advance, providing our borrower with a funding solution that reflects the way the development will actually be delivered and sold.”
Peter MacAllan, origination director at DCS Capital Advisory, said: “We were delighted to partner NG Homes with Atelier on this transaction. This was the third phase of a scheme with a complex structure and an equally complex borrowing requirement. Atelier were commercial, responsive and genuinely solutions-led where it mattered. The end result is an excellent outcome for all parties”
Nick and Graham, directors of NG Homes, Tadworthy Ltd. Westward Ho!, said: “Atelier and DCS Capital Advisory were excellent partners throughout. Their commercial approach, responsiveness, and ability to navigate a complex funding requirement gave us confidence at every stage. This transaction highlights the value of a collaborative, commercially focused approach to development finance. By combining flexible structuring with responsive execution, Atelier and DCS delivered a funding solution tailored to the scheme’s requirements and positioned the development for a successful next phase.”
Atelier Funds 57 Devon Homes With £19.9m Loan