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Estates Gazette article: £48m loan for Chase New Homes, for Brent Cross regeneration

May 15

4 min read

Chase New Homes secures £48m for Brent Cross Cricklewood regeneration project

Chase New Homes has secured a £48m loan from Close Brothers Property Finance to fund the construction of 213 homes in Brent Cross Cricklewood, North London.

Located on the former P.B. Donoghue industrial site on Claremont Road, the development has 251 homes, including 38 designated as affordable, which Chase New Homes will develop in partnership with a registered provider.

Both types of housing will comprise one, two and three-bedroom apartments across three buildings. Each home will have access to private outdoor space, with either a balcony or terrace, and communal gardens.

The scheme is a central part of the mayor of London’s multi-billion-pound Brent Cross Regeneration programme, which will provide 6,700 homes, commercial and retail spaces, arts and culture facilities, greener spaces, and improved schools and healthcare facilities.

Chase New Homes said the programme would create a “vibrant new town centre” within the capital.

Close Brothers Property Finance has previously provided finance for seven Chase developments since 2012 with over 500 homes.

Neil Bradford, senior business development manager at Close Brothers Property Finance, said: “Our business has always been based on building long-term relationships with the best SME housebuilders in the UK, and over the past 12 years, we have seen Chase New Homes grow to become an industry-leading business.

“We are delighted to support them on such a landmark and prestigious scheme and look forward to continuing our relationship as they continue to grow.”

Gary Barton, managing director of Chase New Homes, added: “Close Brothers Property Finance’s personalised, customer-centric approach to lending makes them an ideal, trusted and long-term financial partner.

”With their support, we’re excited to get the development at Claremont Road under way and help to build this new and vibrant community.”


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