Yorkshire Bank funds purchase of Duxbury Manor site

31/05/2011

A new development of 135 family homes in Chorley is being funded by Yorkshire Bank’s Manchester Financial Solutions Centre.

The Duxbury Manor development, on land off Myles Standish Way, is one of the largest land acquisitions in the North West in the last three years.

Yorkshire Bank has provided North West housebuilder Arley Homes with £23m of finance for the land purchase and construction programme which will see the homes built in phases and the first properties expected to come to market towards the end of the year.

The scheme, which was granted planning permission in February 2010, will see the 11.7 acre brownfield site transformed into a development of two, three, four and five bedroom homes, plus green open spaces and a children’s play area, linked by a network of pedestrian pathways.

The homes will range from large, detached homes to more affordably priced properties for the first time buyer market.

Dean Smith, regional property specialist at Yorkshire Bank’s Manchester Financial Solutions Centre, said: “This significant funding package for the acquisition and development of the Duxbury Manor site demonstrates our ongoing support for Arley Homes, a longstanding customer of the bank. This development will provide much-needed family housing to a high standard on a flagship site.”

John Cosgrave, managing director of Arley Homes, said: “Arley Homes has been one of the few housebuilders in the region to remain acquisitive and proactive in developing new housing developments during the recession. This has been due in part to the strong support we have enjoyed from parties such as Yorkshire Bank as well as a strong sales performance.”

Established as one of the region’s leading housebuilders, Arley is bringing the same commitment to building classic, timeless, traditional properties to its latest Chorley scheme. The layout and external façade of the properties have been carefully designed to reflect and enhance the lifestyle and aspirations of local buyers.

Duxbury Manor will be the company’s third development in the borough, following the launch of The Meadows at Coppull last spring and the start of construction for The Birches at Charnock Richard which is due to see the showhome launch at the end of April.

Arley has recently completed the sale of all 28 properties at the award-winning Chanters green in Atherton and has also submitted planning for a fourth site in Chorley at Heath Charnock. The Warrington-based developer is also marketing luxury detached properties at Dunham Chase in Altrincham, Cheshire; The Maples in Fulwood, Preston; and Knightswood in Cheadle Hulme.