Denbury Homes committed to increasing its rate of building new homes by 350% following a £55 million funding package from HSBC UK.
The funding from HSBC UK will be used to purchase land in and around Suffolk, Norfolk, Essex, Cambridgeshire, Hertfordshire and Bedfordshire.
Denbury Homes is currently building 100 homes per year and expects the deal will allow them to scale to become a medium housebuilder*, building up to 450 homes a year, by 2029. With current developments in Thurston, Laxfield, Elmsett, Debenham and Witnesham in Suffolk, and Mattishall in Norfolk, Denbury Homes is launching further developments in and in Essex, Cheveley in Cambridgeshire and in Suffolk.
Denbury Homes will also bring forward its plans for Bury St Edmunds’ Northern Neighbourhood and relief road. This neighbourhood, known as St Edmunds Gate, is aptly named for its position at a key entrance to the medieval town. It will be a major new community and is set to become a flagship development.
To deliver current and new developments, Denbury Homes has so far recruited 24 new staff across all disciplines, taking the total headcount to 54.
James Hopkins, Managing Director said: “As a local developer, we’re committed to designing and building exceptional homes that reflect the aesthetic of our region and enhance the communities they are a part of.
“It’s well-publicised that the UK needs more homes, and our region is no different. Demand is high but buyers, and those living in existing towns and villages, want and deserve homes built with care and attention to detail. Our developments are carefully planned to meet these local needs and ensure they grow into thriving, self-sustaining communities.
“We’re delighted that, with HSBC UK’s support, we can continue to deliver the right sort of homes in the right places and to pursue our ambition of becoming a medium-sized, regional housebuilder.”
Sam Simpson, Real Estate Finance Manager at HSBC UK, added: “The latest housebuilding figures show that we need to build more homes in order to hit the annual targets being set. Denbury Homes is a well-established housebuilder in East Anglia, and we’re delighted to be supporting the company with increasing the number of homes to meet demand in the region.”
*Home Builders Federation defines a medium housebuilder as building 300-999 units per year.
