This post first appeared at Property Funds World
RoundShield has recently supported its borrower, Inox Property Group, in the sale of 157 acres of land to Cornwall Council to facilitate the development of around 1,550 homes as part of the proposed Langarth Garden Village in Truro.
The development, which is in the process of securing detailed planning approval, is a landmark, nationally-important scheme by Cornwall Council to create a new community for the region. Over a third of the homes built will be designated as affordable and local authority housing.
The sale represents a significant tranche of land required for the development, and follows the sale of earlier phases of the project to the Council.
The deal follows several similar projects funded by RoundShield. The firm has provided financial support to Inox Property Group since 2016, and has been investing in housing developments across the South West since its inception in 2013. RoundShield works with a number of local developers, including Burrington Estates, backing projects across the region targeted at the local primary housing market.
Jonas Hybinette, a Partner at RoundShield, says: “We remain confident in housing fundamentals of good quality, local projects in the South West of England. RoundShield is proud to have supported Inox Property Group in assembling one of Cornwall’s most important new housing developments, which will deliver thousands of new homes for residents of the region.”