Barratt Developments has announced today that it will be working with Smeck Capital to raise corporate finance to fund various development projects.
The corporate funding will be used to secure extra landbank by selecting some prime brownfield sites, with the aspiration of increasing housebuilding activities in future years.
Currently, there is a massive demand for property with a large undersupply in England and Wales. This lack of supply has driven property prices to all-time highs. Due to this lack of supply, the government needs to approve several new homes as it is falling short of its commitment to building over 250,000 homes each year.
Smeck Capital have extensive expertise in development finance having worked with several top developers to fund commercial and residential developments.
Development finance has changed significantly in recent years as funders are seeking more creative solutions to raising finance as traditional lending which came from banks is still impacted by minimum solvency requirements.
The ability of Smeck Capital to create innovative funding solutions has helped bring down to cost of finance and created a more robust business model for many developers. This has motivated the Company to formalise a strategy to raise finance immediately.
It is expected that the majority of funds will come from institutional investors. This will only improve production capacity and will benefit the end consumer.
Media Contact
Company Name: Smeck Capital Financial Services
Contact Person: Peter Morgan
Email: Send Email
Phone: +44 (0)20 3968 4805
Address:110 Bishopsgate
City: London EC2N 4AY
Country: United Kingdom
Website: https://www.smeckcapital.co.uk/barratt-developments-enters-joint-venture-with-london-based-smeck-capital
