Close Brothers Property Finance agrees £20m Revolving Credit Facility with gs8 to support landmark sustainable housing development in Radlett

Close Brothers Property Finance has agreed a £20 million Revolving Credit Facility (RCF) with award-winning housebuilder gs8 to support the delivery of Medburn Yard, a 52-home residential development in Radlett, Hertfordshire, with a Gross Development Value (GDV) of £47 million.

The facility represents the first transaction between Close Brothers Property Finance and gs8 and will help bring forward a four-acre site that had previously stalled following the administration of its former owner. Acquired by gs8 out of receivership, the site is now set to be transformed into a distinctive new residential community that combines heritage, sustainability and modern living.

A new benchmark for sustainable housing

Medburn Yard will comprise 38 private homes and 14 affordable homes, ranging from one to four bedrooms, alongside the sensitive conversion of a Grade II listed barn. Designed with sustainability and community at its core, the development will feature:

• A fitness centre for residents
• A DIY and reuse centre
• Concierge and parcel room facilities
• A seasonal pond with outdoor seating areas
• An electric car and bike club for residents
• A zero energy bills guarantee for a minimum of 10 years through a partnership with Octopus Energy

Set within one of Hertfordshire's most sought-after villages, the scheme demonstrates how sustainable design, heritage assets and high-quality placemaking can work together to create thriving communities.

With the development due to launch in late summer, buyer demand has already been exceptionally strong. More than 200 enquiries have been received ahead of the official launch, highlighting the appetite for high-quality, energy-efficient homes in desirable locations.

The scheme reflects a growing consumer focus on sustainability, wellbeing and access to shared amenities, while providing a range of housing options that support local housing needs.

Phil Hooper, CEO of Close Brothers Property Finance, said:

"gs8 is setting a new benchmark for sustainable housebuilding in the UK, with sustainability built into every stage of the decision-making process. It is a smart, future-proofed approach, and one that is proving exceptionally popular with buyers in what remains a challenging sales market. We are proud to be supporting ambitious businesses like gs8 and funding schemes that are raising the bar for what new housing in this country can deliver."

Josh Gordon, Co-Founder of gs8, added:

"Medburn Yard is genuinely a unique scheme which Radlett can be proud of, and one that demonstrates what is possible when beautiful design, heritage and sustainability are treated as a single brief rather than competing priorities. Close Brothers understood that vision from the outset, and their expertise has been invaluable in bringing the scheme forward at pace."

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