CARLTON Bonds has provided short term finance to award-winning County Durham developer Homes by Carlton, driving forward several property schemes around the North East.
From left to right: Norman Peterson, CEO of Growth Capital Ventures; Simon Walker, Managing Director at Homes by Calrton; Simon Lenney, Chairman of CARLTON Bonds; Craig Peterson, COO of Growth Capital Ventures; Michael Marram, Senior Site Manager at Homes by Carlton.
Homes by Carlton have recently used a £300,000 short term development finance loan to fast-track construction work on their Cathedral Gates development, situated just eight miles from Durham City.
The development comprises 14 three and four-bed detached and semi-detached homes, and it’s proven popular, with 10 plots already sold. This has given the construction team the confidence to accelerate the building programme.
Having completed the first short term development loan, CARLTON Bonds have provided a separate £800,000 bridging loan to allow Homes by Carlton to obtain land for new homes at Thorpe Thewles in Stockton-on-Tees.
Simon Walker, Managing Director of Homes by Carlton, said:
“I’m really pleased that we’ve managed to secure bridging and development finance with CARLTON Bonds. After we quickly sold the first 10 homes at Cathedral Gates, we wanted to speed up the construction process on site and the loan enabled us to do that.
Working with CARLTON Bonds was a pleasure; having secured the loan rapidly, we’ve been able to start construction work sooner than anticipated and we also have additional finance in place to move quickly on our Thorpe Thewles development."
Simon Lenney, Chairman of CARLTON Bonds, said:
“I’m delighted to see how the loan has enabled Homes by Carlton to press ahead on the Chilton scheme and acquire an exciting scheme at Thorpe Thewles.
This is exactly what CARLTON Bonds was set up to do - provide quick, alternative finance that can speed up property developments and provide our investors with the potential to earn much higher returns than those currently available through traditional investment routes.”
CARLTON Bonds has been driven by rising demand for good quality housing and is a response to the lack of fast, flexible mainstream finance available to property developers and investors in many sectors such as hotels, student accommodation and residential.
The bond works by providing secured loans to property developers and property development companies. Returns are generated by charging interest and fees on these loans.
The CARLTON Bonds online investment platform has been designed to streamline the investment process and provide experienced investors with access to bonds with higher target returns than that of more mainstream investment options.
The CARLTON Bonds product is available exclusively to experienced investors who are classified as either sophisticated investors, high-net-worth individuals or professional investors and have the knowledge and experience to make their own investment decisions. Investments are high risk and illiquid, your capital is at risk and returns are not guaranteed. Bonds are not protected by the Financial Services Compensation Scheme (FSCS).