Funding deal secures new homes development in Monk Fryston

Construction work is now underway at a family homes development in Monk Fryston.

Gregory Property Group started construction to build the new homes following a funding deal secured with Assetz Capital, the peer-to-peer lender.

The Leeds-based developer acquired the former quarry site, off Abbeystone Way, last year and secured planning approval to build nine new family properties. including five four-bedroom detached homes and four three-bedroom townhouses.

Andrew Foggitt of Gregory Property Group said: “We are delighted to be able to start on site with this small and very individual cluster of new homes situated in a very attractive residential location and close to amenities on Main Street.

“All properties at ‘Abbeystone Gardens’ are being built from natural materials in keeping with the local area.

“Selby District Council has recognised a requirement for more housing in the area and we are keen to support this agenda with completion anticipated in the Autumn.”

Stuart Law, CEO at Assetz Capital, commented: “It is great to be able to back another quality developer and help deliver much-needed houses.

“Our specialist team is working on funding thousands of new homes and we look forward to the Government’s forthcoming housing White Paper that we trust will accelerate the process.”

Shulmans acted for Gregory Property Group in formalising the funding deal and Bradford-based Torpoint is contracted to build the houses.

Notable projects within the Gregory Property Group portfolio include the £40m mixed use scheme at Broad Street Plaza in Halifax and the £40m retail park at Foss Islands in York.

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