OakNorth Bank has completed a £2.3m loan to leading Norfolk residential developer Dewing Properties. The loan was completed through the government’s Coronavirus Business Interruption Loan Scheme (CBILS) which OakNorth Bank is an accredited lender for.
Dewing Properties, which prides itself on building quality homes in keeping with the environment and location of the surrounding areas, recently completed a major residential development consisting of 44 homes, including eight affordable units, in the popular North Norfolk coastal town of Mundesley. Properties within the development range from two and three bed-room bungalows, to three and four bed-room houses, in addition to several four bed-room chalets.
Founded by Chairman, Andrew Dewing, Dewing Properties was established with the aim of maintaining the balance of the rural economy and to ensure that village development is sustainable and environmentally sympathetic, whilst being affordable for local residents. Fellow director, Ian Webster brings to Dewing Properties knowledge of the local farming community and existing relationships with farmer landowners, which he hopes will develop into opportunities for future schemes.
Dewing said: “The lack of residential properties in the surrounding area makes Mundesley a very attractive location for first time buyers, growing families and those looking to retire. We strive to provide high quality in every one of our builds, whilst incorporating state-of-the-art design techniques and technology, as well as a traditional style.
“The speed at which the OakNorth Bank team were able to complete the loan made them stand out from other lenders, and we greatly appreciated being given the opportunity to discuss the development directly with the Credit Committee – who were totally transparent in their feedback.”