Lister Carter Homes

Lister Carter Homes secures over £5m for housing development in Cheshire

Lister Carter Homes, a multi-discipline consultancy, has secured funding of more than £5m for the acquisition and development of at least 30 new houses in an idyllic village on the outskirts of Chester.

The land was bought from a well-known housebuilder who had a history of declined planning applications on this site. 

Lister Carter — a local architect and property developer whos’ work encompasses design, planning, manufacture and build, saw an opportunity given its understanding of the local demographic — had the vision to create a project that would win the hearts of local inhabitants, the parish, and the planning office.

Planning is currently for 21 open-market detached houses and nine affordable houses in the Cheshire village.

Peter Williams, senior commercial manager at Empire Commercial Finance, and Matt Davies, managing director, said that they worked tirelessly to find the best possible deal the market could offer.

Having negotiated terms with a prominent UK development funder, the local developer was able to successfully secure the deal and move on to the next stage. 

“It is always a pleasure supporting local businesses and I am looking forward to seeing this development build out over the next few years [as] Lister Carter are well known for their elegance and build quality,” said Matt.

The total cost of the land acquisition stood at £1.62m, with the loan at a LTV of 60%.

In addition, build costs are £4.25m, with the loan at a LTV of 50%, on a term of 18 months.

There was also a bridging loan approval of just over £1m, bringing the total funding to £5.2m.

“By building excellent relationships with our lenders at senior level, we are able to bring real benefit to our clients; every day our team of specialists are able to turn around quick decisions at competitive rates,” Pete explained.

“Our experience and knowledge enable us to provide tailored solutions to match the needs of our clients to the right lending solution.”

Leave a comment