Genesis Homes secures Homes England loan
Genesis Homes has secured a funding loan from Homes England, which will help bring new housing to Brigham, Cockermouth.
The funds have been awarded from the £4.5Bn Home Building Fund, the scheme introduced to support small and medium sized (SME) housebuilders in the delivery of new housing. The fund will see some 37 houses developed, with the funding facilitating the construction of an off-site Drainage Improvement Scheme, which will greatly benefit the village of Brigham.
The scheme will feature three-, four- and five-bedroom high-quality homes, eight of which will be launched as affordable homes. The homes will be built to a high specification to address the need for aspirational and quality housing stock to support and retain Cumbria’s skilled workforce.
The Government is increasingly looking to work with SME housebuilders to deliver the target of 300,000 new homes per year required to alleviate the shortage of new homes in England. Genesis Homes fits this requirement, as a Penrith-based housebuilder with several sites in development across Cumbria, the company employs 24 staff at its head office in Penrith, and over 50 local contractors beginning.
Nicky Gordon, Managing Director of Genesis Homes said: “We’re very excited to announce this support from Homes England which will contribute to the delivery of our new homes in Brigham. It’s great to see Homes England eager to work with small and medium housebuilders to deliver the number of homes needed.”
Colin MacCallum, Transactions Manager, from Homes England said: “Homes England’s objective is to support and create more SME developers to help diversify the market.
“We are pleased to have collaborated with Genesis Homes to provide finance for this scheme. St Bridget’s is another example of how we work with our partners and do things differently to address the shortage of housing and get more homes built.”
The Home Building Fund is open to larger builders and developers, SMEs, custom builders and regeneration specialists. Find out more about the Home Building Fund.
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