Oceanview Carbis Bay

Shawbrook Bank lends £16.2m for development of 36 apartments in Cornwall

Shawbrook Bank has provided £16.2m of funding to development company Oceanview Carbis Bay (part of Derrington Group) for the construction of 36 new apartments in Cornwall.

The development is aimed at the over 55-year-olds and is the first scheme of its kind to be financed by the specialist bank.

Planning has been obtained by the developer to build the new properties with the scheme on the north Cornish coast expected to be completed by early 2021.

“It’s an exciting time for the business as we go forward with this development and its reassuring to know that we have the support of Shawbrook, which has already demonstrated expertise and flexibility with overcoming challenges both on and off site,” said James Simpson, managing director at Derrington Group.

John Hughes, relationship manager at Shawbrook Bank, added: “The development will not only be a great success for Oceanview Carbis Bay, but it will also add significant value to the local people, providing them with more options of quality housing.”

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