£5m refinance package helps company build on growth plans

The Ben Bailey Homes show home in SwintonThe Ben Bailey Homes show home in Swinton
The Ben Bailey Homes show home in Swinton
A HOUSE-BUILDER has completed a £5m financing deal to deliver its current pipeline of new homes in South Yorkshire.

Ben Bailey Homes' deal with the St Bride’s White Rose Residential Partnership includes the 23-home Rockingham Fold development at Upper Haugh near Wentworth and the 20-home second phase of Harrop Mews, in Swinton.

Ben Bailey/Conroy Brook chief executive officer Richard Conroy said: “This new partnership is an important step in delivering our business plan of high-quality homes across the region and we are pleased that our values and objectives have aligned so well with St Bride’s.

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“We look forward to delivering this first round of projects and we now have a remit to acquire more sites of 30-100 units with St Bride’s going forward in the South Yorkshire region.”

Ian Houston, partner at St Bride’s Managers, said: “This is the third lending deal the partnership has recently completed in South Yorkshire for our residential partnership and we are delighted to be supporting Ben Bailey with their growth plans to deliver more quality homes.”

The St Bride’s White Rose Residential Partnership has £50m of investor commitments for investment in residential assets across South Yorkshire.

Walker Morris acted for St Bride’s and Schofield Sweeney/ Square One solicitors acted for Ben Bailey.

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Launched in 1933 by founder Ben Bailey, Mexborough-based Ben Bailey Plc was Yorkshire's largest independent house builder, developing more than 700 homes a year when acquired by Gladedale in 2007.

Following the takeover and a subsequent rebrand, the Ben Bailey name disappeared completely from the construction industry but it made a return after it was acquired by the Conroy Brook Group in 2018.

The company is currently delivering Swinton phase 1, a development of 29 homes that is being developed in partnership with WDH as a mixed tenure, 100 per cent affordable scheme.

Ben Bailey Homes is also renovating Swinton town centre in partnership with Rotherham Council to provide a new library building.

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A renovated Swinton Civic Hall reopened in October last year as part of of the town centre’s masterplan, while Rotherham Council leader Cllr Chris Read officially opened the show home of Ben Bailey Homes' Harrop Mews project the following month.

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