Close Brothers Property Finance has confirmed a £60m funding injection for the final phase of Kingsbury Park, a £120m housing scheme in Leicestershire. The development, led by Mulberry Homes, will bring 288 new homes to Lutterworth, marking a significant milestone in a project spanning nearly a decade.
The partnership between Close Brothers and Mulberry Homes has delivered over 1,000 homes across 23 developments since 2008, with the Kingsbury Park scheme being their largest undertaking. The eight-year construction period coincided with major market disruptions, including Brexit, the pandemic, and global economic volatility.
Business Development Director Simon Davey praised the enduring relationship between Close Brothers and Mulberry Homes, citing the lender's flexible support as crucial in navigating challenging market conditions. Despite fluctuations in demand, Lutterworth proved resilient, maintaining steady interest even during periods of market downturn.
Finance Director John Burke acknowledged that the project benefited from Close Brothers' adaptability, allowing for integrated infrastructure and open spaces alongside the residential units. The completion of Kingsbury Park comes as many UK households face increased mortgage costs, highlighting the need for specialist lenders like Close Brothers to support SME housebuilders on long-term initiatives.