Levelling Up Home Building Fund: Windyridge Property Investments

In March 2022 Homes England supported Windyridge Property Investments, a new entrant SME developer, with a £1.4 million development loan to deliver Sienna Way, a scheme comprising of 9 homes based in West Bromwich. As a first-time developer, Windyridge had experienced numerous funding barriers before receiving support from the Levelling Up Home Building Fund. Funding was legally contracted in 54 days from credit approval, demonstrating Homes England’s ability to provide SMEs access to much needed funding at pace.

Our regional team worked closely with the developer to design a flexible funding structure that incorporated possible delays in build completions and generous timeframes to sell the homes.

Completed in July 2023, Sienna Way meets the latest energy efficiency standards and provides a high-quality living environment for first time buyers, key workers and young families. Features include private courtyards, electric car charging points and underfloor heating. The scheme uses locally sourced, sustainable products, minimising waste in the construction process.

Jatinder Singh Gakhal, Managing Director, Windyridge said: “As a new SME housing developer, we found securing development funding particularly challenging given the macro-economic factors affecting the construction industry. However, thanks to the team at Homes England, who provided exceptional support and guidance throughout the application process, we swiftly secured a development loan to fully fund our scheme. We strongly recommend SMEs consider Homes England funding to help unlock their future development sites.”

Source: Homes England