Pluto Finance has closed a new £35m stretch senior residential development loan to Elevate Property Group for a new 216-unit apartment scheme in Ashford, Kent.
Ashford continues to see significant new developments, providing a mixture of both urban and rural new-build homes in an attractive and affordable area for many families. Ashford is well connected to central London via its railway service which offers a 38-minute direct train to London St Pancras Station.
Greg Dunne, senior lending manager at Pluto Finance, comments: “Ashford has undergone significant regeneration in the past five years and the influx of investment looks set to continue. Elevate Property Group is a highly experienced developer and has a great track record of delivering high quality schemes across the country. We are delighted to complete our first loan with Elevate Property Group and we look forward to working with them.”
Steve Dodd, CEO at Elevate Property Group, adds: “We are very excited to be delivering our Ashford project, providing much needed new homes at an affordable price point in a fantastic location. We appreciate the support and flexibility of the Pluto Finance team in getting this development up and running.”