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G&C Finance takes environmentally friendly housebuilder to new level
10/03/07
A housebuilder specialising in timber-frame properties has started work on its first major development after agreeing a funding package with G&C Finance.
West Yorkshire-based Eco Homes Limited, which is a subsidiary of Paul Thompson Developments, has previously specialised in one-off single house projects but G&C’s 100 per cent funding offer has allowed it to start work this month on its first multiple-unit scheme in Sowerby Bridge near Halifax.
The scheme, which has a GDV of almost £4 million, will see the conversion of a Grade II listed Masonic lodge into two new three bedroomed semi-detached houses alongside the construction of 19 timber-framed three-bedroomed four-storey town houses.
Johnathan Dyke, projects director for G&C and based at the company’s Leeds office, said the proposed development was unlike anything G&C had ever financed before.
He said: “Eco Homes has a very successful track record of building bespoke timber-framed homes that are extremely well constructed, architecturally innovative and kind to the environment.
“The last couple of years have seen the number of timber-framed new builds rise by 15 per cent across the country and we believe this trend will continue as the benefits of this construction method become more apparent.
“Currently Eco Homes is one of the leading proponents of timber-framed homes but up to now has focussed on more bespoke single house projects. By coming to G&C and taking advantage of our 100 per cent finance facility, Eco Homes can now move to a new level and establish itself as a key niche developer in the region.”
Timber-framed houses have come into vogue increasingly in recent years due to their aesthetic qualities, their durability – the oldest building in Britain is an 11th century timber- framed stave church – and their environmental credentials.
Timber-framed houses are highly energy efficient as a result of their innovative construction and homeowners can expect fuel bills to be at least one-third less on average compared to conventional brick and block constructed houses. In an increasingly environmentally aware marketplace, timber-framed houses also utilise sustainable materials with significantly reduced build times.
This development will achieve a sap rating of Grade A due to the timber frame design whilst remaining in keeping with the surrounding area by using natural stone and natural blue slate.
Paul Thompson, managing director of Eco Homes Limited, said: “As the market for timber- framed houses continues to grow, so does the need for Eco Homes to expand to meet that demand and that has been made possible with the help of G&C Finance.
“The service that G&C has provided has been exceptional, both in terms of providing the finance for this project and in a consultancy role. It is reassuring that G&C shares our vision for this niche market and understands the unique product that we are bringing to the marketplace.”
With its headquarters in Solihull, G&C Finance has provided almost £400 million of development funding in the past two years and has recently opened a new office in Leeds, six months after launching an operation out of Cardiff covering the south west of England and south Wales.
As well as offering 100 per cent development finance, the company also offers a full consultancy service and prides itself in making in principle funding decisions within 48 hours.
G&C Finance are 100% development funding & finance experts.