Kingswood secures £29m from Homes England
The Little Hoole-based housebuilder will use the funds to buy land in the North West to grow its pipeline of deliverable sites.
The £29m, four-year facility from Homes England is the second time Kingswood Homes has received support from the government body.
Homes England provided another £29m to the company in 2020, which helped grow Kingswood’s delivery from 36 homes per year in 2016 to 120 homes in 2022. Kingswood is aiming to deliver 200 homes a year within the next four years.
Regarding the financing agreement, Kingswood Homes managing director Paul Jones said: “The industry is dealing with pressure from all angles; static house prices, rising inflation impacting on labour and materials, along with higher borrowing costs, all of which are squeezing margins. This new facility will put us in a really strong position to continue to grow over the coming years.
“We have held back from the land-buying market over the last 12 months due to the market feeling overheated, but I am pleased to say we are now moving forward and are hoping to secure sites across the North West.”
Kingswood is on site delivering 435 homes in Feniscowles and 79 homes in Hoddlesden. While currently based in Little Hoole, the company unveiled plans last year to relocate its headquarters to the former Grill and Grain pub near Hoghton.
