Member Article

Brighton development secures seven-figure funding deal

A residential development overlooking Preston Park has received a funding boost from The Royal Bank of Scotland (RBS).

The investment will allow Cross Stone (Parq) Ltd to fully fund 31 prestigious residential units, which is due to be completed in the Spring of 2016.

Building works have commenced on a mixture of one, two and three bed high end units together with a flagship penthouse.

The Company Principal Ross Barbour has over 30 years’ experience in the Sussex property market, both commercial and residential.

Ross Barbour, Company Principal of Cross Stone (Parq) Ltd, said: “In the past we have focussed more on commercial projects, particularly in the Sussex area, but we are now concentrating on residential housing and flats. Preston Road represents the luxury end of the market.

“I am delighted to work with The Royal Bank of Scotland who has already agreed to fund our next residential project in East Sussex.”

Adrian Foote, Relationship Director, Real Estate Finance at The Royal Bank of Scotland, added: “We were extremely pleased when Ross approached us for assistance to fund these developments, which clearly have great potential. We hope to work closely with Ross for many years to support his highly successful business ventures.”

This was posted in Bdaily's Members' News section by Ellen Forster .