A joint venture between Fred Done of Betfred and Henley Homes has secured a £14.6m funding deal with Natwest to back the second phase of its regeneration of Barnes Hospital in Cheadle.
Natwest’s funding package has allowed the joint venture to start work on 84 homes at Barnes Village, just off the M60 and the A34. Overall, the site has planning permission for 155 two, three, and four-bed homes, including 38 apartments in existing grade-two listed Barnes Hospital.
Henley Homes has already completed the conversion of the hospital into flats and is currently building a mix of houses on the 17 acre site, in a deal also backed by Natwest. Henley is acting as contractor for the project, and planning permission was granted in 2013.
Jeffrey Bell is architect for the scheme.
The joint venture’s director Steve Marsh said: “Our goal at Barnes Village is to restore an iconic and important local building and create a sustainable new community, centred around well-designed contemporary homes. NatWest helped us with the first phase of the scheme and we are pleased they have returned to help us with phase two.”