Development Finance Today

Indurent has completed a 148,000 sq ft warehouse facility for Rolls-Royce, with the Derby site now handed over to the engineering giant. “We are extremely proud to complete and hand over this state-of-the-art facility for Rolls-Royce, a globally-renowned company which is at the forefront of innovation in manufacturing,” said Rob Richardson, development director at Indurent. Terry Meighan, infrastructure director at Rolls Royce, added: “The project was delivered on time and on budget but, most importantly, it was done safely." Read the full story at DFT: https://lnkd.in/eYtik75P

The top 100 construction projects due to start in 2025 will generate £34bn worth of work, according to data provider Glenigan | Powered by Hubexo. Civil engineering is due to provide the biggest boost with 45 of these top 100 projects, including the five biggest schemes set to begin this year. Twenty of these top 100 projects are in the residential sector with a combined £4bn of value. Read the full story at DFT: https://lnkd.in/e4jdhh9Q

Residential construction activity increased in the fourth quarter of 2024, with the value of these project starts up 7% from the preceding quarter. This is according to the Glenigan | Powered by Hubexo index of construction which found the value of overall project starts was 2% higher over this period. Commenting on the data, Glenigan economic director Allan Wilen said seasonal factors affected working commencing on-site during this period. “However, after adjusting for the Christmas wind-down, starts managed to edge slightly higher during these three months” Read the full story at DFT: https://lnkd.in/e2P3K6RP

Paragon Banking Group PLC has provided a £3.3m finance package to a 13-house development in Huby, York. The funding has been provided to developer Northmead Homes Ltd, based in York, with Paragon relationship director Karl Kent leading the deal. He was supported by senior portfolio manager Shannon Altimas. “Maple Fields is a brilliant scheme that offers so much to residents, it’s been a pleasure to work with Phil and Fiona on this scheme,” said Karl, referring to Phil Mead and Fiona Mead, who own Northmead Homes. Read the full story at DFT: https://lnkd.in/eDTPi6ey

The Competition and Markets Authority (CMA) has updated its current investigation into the housebuilder sector, which is scrutinising eight major housebuilders. The investigation was first launched in February 2024 amid suspected breaches of competition law, relating to concerns that sensitive information was being shared between parties. Read the full story at DFT: https://lnkd.in/epyn4yZq

Fintech Sikoia has partnered with specialist loan brokerage Y3S in a modernisation of the latter’s offering for brokers. Barney Drake CeMap, CEO at Y3S commented: “Our partnership with Sikoia demonstrates our dedication to staying ahead of the curve in fraud prevention and compliance, giving brokers greater confidence in the solutions we offer.” Alexis Rog, founder and CEO of Sikoia added: “With this integration, Y3S will be able to offer an even more efficient and seamless experience to their brokers and clients.” Read the full story at DFT: https://lnkd.in/eruZg3X5

CapitalRise secures the second facility increase agreed in the past year with the same investor, having initially increased the funding line by 50% to £30m in the first few months of 2024. Uma Rajah, CEO and co-Founder of CapitalRise, commented: “Securing this £20m funding line increase further supports the diversification of our capital sources, which helps to ensure our robust funding model." Pip Lashko-Sayers, director of capital markets at CapitalRise, added: “The funding line boost not only helps us meet the growing demand for specialist residential development finance — but also builds on our strong partnership with this renowned UK investment management firm, with whom we have had a relationship for the past two years." Read the full story at DFT: https://lnkd.in/e5SpZwGY

Harworth Group plc has generated £104.1m from land sales in 2024, with the disposal of 2,385 plots representing its strongest residential sales performance to date. Lynda Shillaw, CEO of Harworth, highlighted this disposal strategy was in line with the group’s strategic target to sell 2,000 plots per year. “Throughout the year we continued to see healthy demand for our high quality de-risked serviced land, and notably we also completed two major land sales at our Skelton Grange and Ansty developments in December, for £106.3m.” Read the full story at DFT: https://lnkd.in/ehFYKppd

United Trust Bank Limited (UTB) has partnered with Iron Bridge Finance & Orlandis Capital to fund a South London development with £7m. “I am delighted that UTB has the opportunity to once again collaborate with [Iron Bridge COO] Edward Alexson and Iron Bridge Finance in supporting this venture,” said UTB director of property development Luke Benton-Drury. Read the full story at DFT: https://lnkd.in/eug6Hs8v

The Federation of Master Builders (FMB) has urged the government to keep momentum in 2025 with its push to create more housing. The FMB has pointed to recent data from the S&P Global UK Construction Purchasing Managers Index (PMI) which showed construction activity growth contracted in December. Commenting on the figures, FMB CEO Brian Berry highlighted the “alarming” fact this was the fastest reduction in activity since June 2024. Read the full story at DFT: https://lnkd.in/ewDMpmg2