Development FinanceNews

Mizen Group extends development portfolio

Mizen Group has extended its development portfolio following the acquisition of three residential and mixed-use sites.

 

The acquisitions total £19m and are based across London; this includes twin sites providing 12 family homes in Fortis Green and Finchley.

In addition, 30 flats and two retail units in Sutton are included, some of which are affordable housing units.

Shawbrook Bank supported Mizen Group’s projects by providing close to £18.5m in development finance facilities.

Barry Tansey, chief executive at Mizen Group, said: “All three schemes are prime examples of our focus, commitment and ability in delivering sustainable homes and schemes across London and the South East.

“Prior to working with Shawbrook, we had been searching for a lender with which to cultivate a long-term partnership and thus cement the foundations for a successful and lasting relationship.

“Shawbrook has an extensive track record in the development finance space across the UK.

“The bank was also able to deliver under tight timescales and was extremely knowledgeable and supportive of our business and our strategic goals.

“We knew instantly they could see the value in these projects, and we are absolutely delighted to be working with them.”

Raymond Wong, relationship director for London and South East at Shawbrook, added: “As with all our development finance facilities, Mizen has benefitted through our dedicated relationship management which allowed us to really understand their business and, in- particular, both the intricacies and potential of these individual schemes.

“As a specialist with an outstanding knowledge of the development finance sector and the subsequent requirements of developers such as Mizen, we were only too happy to provide £18.55m in development facilities.

“This project will not only boost Mizen’s impressive portfolio of developments but also provide top quality housing and retail units across London.”

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