Birmingham based Richborough Estates LLP is a leading land promoter, with projects spanning the promotion of 150 to 300 dwellings on greenfield, and brownfield sites and has an unrivalled record in gaining planning permission for residential development for its clients
The Regional and National Mezzanine Fund invested a multi-million pound figure to enable Richborough Estates to increase its portfolio of promotable land and service the increasing demand for more homes across the UK. In 2017, the firm delivered 1,000 new plots to housebuilders that helped to create 1200 jobs. After securing the finance to drive its future growth, the firm will increase its portfolio of 80 sites, supplying 600 sites and creating an additional 240 jobs in 2018, as well pursuing its own team expansion
Paul Campbell, Managing Director at Richborough Estates, said:
“As the UK’s housing demand continues to rise and remains a key focus for central government, more developers are calling for ‘shovel ready’ sites that are primed for construction to begin. As a firm we’ve worked hard to plug this gap and remove the hurdles for developers such as outline planning permission, something that has clearly resonated with the market and enabled us to grow as a company.
“This funding from Frontier Development Capital will ensure that we can continue this upward trajectory, with plans in motion to increase the size of our team to help meet our ambitious target of bringing 2,000 new plots to the market next year.
“Our approach to every development is to ensure that they form a cohesive extension to an existing community, enhancing and supporting vital existing services such as local schools, post offices and shops, while ensuring that the UK is able to meet its growing demand for new homes“.