£15,100,000 – Southwest England

Puma Property Finance has completed a £15 million loan to finance the acquisition and subsequent construction of a residential development located in the southwest coastal market town of Teignmouth, in Devon. The site benefits from planning consent for 255 units, 25% of which are designated as affordable, with the first phase comprising 59 units.

The desire for space and lifestyle change, which has dominated the regional markets since the UK came out of lockdown 3 years ago, continues to shape housing demand. The strongest performing regions post-pandemic have been the markets beyond the London commuter zone in the South of England, which include relocation and coastal hotspots in Devon and Cornwall.