SME housebuilder secures £3.75m equity investment

Backhouse has secured £3.75m of joint venture equity investment from the Housing Growth Partnership (HGF).

The investment will support the SME housebuilder’s development of two residential schemes in Somerset and Wiltshire.

The developments are located in the market towns of Castle Cary in Somerset and Westbury in Wiltshire.

CGI of Castle Cary development
CGI of Castle Cary development

Once completed, the schemes will see 74 new homes delivered close to Castle Cary station and 56 new homes built on the site of the former Westbury Hospital.

Backhouse – an independent, design-led housebuilder – was founded by Theo Backhouse (pictured top, right) in 2016.

CGI of Westbury development
CGI of Westbury development

Theo said that the backing was a vote of confidence in its strategy and team.

“It’s great to see that the investment is now there for projects which add real value to communities.

“The HGP’s investment structure creates a genuine partnership. 

“It increases the reach of our capital, has sped up development and is a strong base for our growth plans."

Also pictured: Steve Russell, managing director at Backhouse

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