Deal agreed to build 91 starter homes in Bristol

Property business MCR Homes has secured £18m of development finance to fund construction of 91 starter homes in Bristol.

The Parkview housing scheme will be built on a brownfield site on Whitchurch Lane, four miles south of the city centre, within what was previously the Parkview university campus.

Construction of the project will begin this month after the finance was agreed with development lender London Wall Lending this week. MCR’s own construction arm will carry out the work.

The mix of two and three-bed houses and duplexes is aimed at young professionals, first-time buyers and families on the outskirts of Bristol.

A total of 27 properties will be affordable homes available under shared ownership.

Michael Fenlon, director at MCR Homes, said: “This final phase of the residential reinvention of the Parkview Campus will deliver much-needed and highly-affordable starter homes for young professionals and families.

“This cluster of homes is set right on the edge of Bristol giving residents the best of all worlds, with fantastic transport links and easy access to the city on one side and some of the UK’s most beautiful countryside on the other.”

MCR Homes, which is the residential sales division of MCR Property Group, said it expected the marketing of Parkview to launch in January 2022.

Ned El-Imad, partner at London Wall Lending, added: “There is a lack of high-quality properties in prime city locations across the UK, so we are pleased to have been able to provide this development loan to MCR Property Group helping to address this need.

“We continue to see significant opportunities to back more family-led housing developments around the UK, and we’re ready to do so by providing an efficient and straightforward route to capital.”

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Hannah BakerSouth West Business Editor