Gatsby Homes Limited have secured a £2m facility which will be used to deliver an exclusive housing development situated within Bedlington, Northumberland.
Inveniam provided management with financial and business planning assistance and secured debt facilities to support the development from Tier One Capital. Going forward, Inveniam are engaged to provide management accounting, payroll and financial monitoring services. Board representation will also be provided by Ian Morl.
Lee Humble, Corporate Finance Director at Inveniam, commented “this was a fantastic proposition which we have been delighted to work upon. Gatsby will benefit from an experienced and balanced management team and aim to provide an estate of quality residential accommodation. The development satisfies local authority housing requirements and we hope to support further projects with the business going forward.”
Building work will commence from October 2017 with a view to the first homes arriving onto the market at the end of Q1 2018. Inveniam were supported by Jess Swindells in the completion of the initial investment.