Close Brothers funds final phase of 288-home Leics project

Close Brothers Property Finance has funded the final phase of Kingsbury Park, a 288-home development in Leicestershire that is the largest single project in the lender's 15-year history with housebuilder Mulberry Homes.

The completion brings the number of new homes financed by Close Brothers for Mulberry to over 1,000 across 23 developments since 2018. The schemes have ranged from a 22-unit project in Great Easton to multi-phased sites like Kingsbury Park.

Simon Davey, business development director at Close Brothers Property Finance, said the relationship with Mulberry spans more than a decade and is built on "mutual trust, consistent communication and a shared commitment to delivering high-quality housing."

"In today's environment, where delivery timelines are longer and market conditions more complex, relationship-led lending has never been more important," Davey said. "We remain committed to supporting established SME housebuilders like Mulberry Homes to bring forward much-needed new homes across the UK."

John Burke, finance director at Mulberry Homes, said Kingsbury Park has experienced both strong and weak housing market conditions but proved "a highly resilient location, with demand remaining steady even during the market's lower ebbs." A phased approach allowed the builder to deliver homes alongside infrastructure and open spaces needed for a community, he said.

"Close Brothers has been a consistent partner from the outset, with a strong understanding of both the scheme and the wider development lifecycle," Burke said. "Their ability to provide flexible, pragmatic support when required has played a key role in helping to keep the project on track and delivering it efficiently."