Property scheme underway near Chelmsford with £18m OakNorth loan

OakNorth has provided a £17.8m loan to property developer Marden Homes.

The finance will be used for a major new waterside residential development, consisting of 128 units, including 28 affordable homes in Little Waltham, five miles north of Chelmsford.

Rick Tappenden, managing director at Marden Homes, said: “With its excellent transport routes and prime location within the London commuter belt, the Chelmsford area has become an increasingly popular area for young families and first-time buyers to plant roots.

“We endeavour to ensure the superior quality of our work runs throughout every one of our builds, meaning our customers can look forward to leading-brand appliances, touches of luxury, and beautifully crafted finishes in each room.”

Established in 1989, Marden Homes has been building bespoke properties throughout London and the South East for over 25 years. All properties in this development are set to ‘benefit’ from a 10-year guarantee.

Eamonn O’Rourke, director of property finance at OakNorth, added: “Rick and his team at Marden Homes have a wealth of experience in the property sector and have an excellent track record in providing top quality homes throughout London and the South East.

“We look forward to watching the site take shape over time and hope this is the start of a long term relationship between OakNorth and Marden Homes.”

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