Continuing a strong performance in the South East this year with over £70m funded, Zorin has closed a £6.4m development in Hertfordshire.
The loan will fund the acquisition and then modern conversion of three substantial barns into nine houses, consisting of five 3-bed, three 4-bed and one 5-bed. Set within a gated community each house will have a private garden and 3 parking spaces with direct access from each unit to their car. The scheme offers a wide range of both unit sizes and number of bedrooms, and is expected to have strong demand for those purchasers seeking this type of dwelling.
The local area is a sought-after residential location that offers both a rural lifestyle with easy accessibility to everyday goods and services, and accessibility for commuters into London and Cambridge.
A repeat borrower, they have already undertaken similar successful developments with Zorin. The scheme will be delivered as a self-build project with the borrower using their own contracting firm. The borrower has significant experience in this area and has built a strong team of local sub contractors, interior companies and agents who will also be employed for this development.
Tim Phillips, Lending Director at Zorin Finance comments: “Delighted to be supporting this longstanding return client of Zorin with another exciting scheme. The conversion of these barns into what I’m sure will be beautiful family homes is an exciting project that I am keen to see being delivered over the coming months.”