Puma Property Finance provides £14m development loan for residential scheme in Newcastle

Puma Property Finance has provided a £14 million development loan to fund a 37-unit residential scheme in Gosforth, a popular suburb of Newcastle upon Tyne. This attractive development will offer a combination of apartments, townhouses and detached houses, and will comprise around 65,000 square foot of accommodation.

The scheme is scheduled to complete at the end of 2021 and follows on from a number of developments we have funded in the North East. With little development land available in the sought-after Gosforth area, we anticipate keen demand for these properties once completed.

Kevin Davidson, Managing Director at Puma Property Finance, said:

We are delighted to have provided this residential development facility to a strong, local developer despite being in the midst of a global pandemic and continued economic uncertainty.

It underlines our commitment to continue to support experienced property professionals across the UK, and we look forward to closing further facilities over the coming weeks and months.

Puma Property Finance closed more than £200 million in loans during 2019 and continues to increase its lending activity in both deal volume and size. It delivers development loans from £5 million to £35 million to finance residential, commercial and specialist sector projects such as hotels, student accommodation and healthcare, including care homes and retirement living. The business offers three core loan products: stretch senior development loans; pre-development bridge finance for site acquisition; and post-development exit finance.

Get in touch

Puma Property Finance delivers development finance to professional developers throughout the UK and across a range of sectors. For more information on any of our lending products, please contact one of our dedicated professionals on 0207 647 8160 or enquiry@pumapropertyfinance.co.uk.