UTB supports £23m luxury apartment development by Stephens + Stephens

Wednesday, February 28, 2024 By Aaron Strutt

UTB is providing funding to developers Stephens + Stephens’ development of 32 luxury apartments in Newquay, Cornwall.

Stephens + Stephens create desirable design-led properties in stunning locations within the Cornish landscape. Their latest build, known as Cliff Edge, is the second phase of the redevelopment of a former hotel site and comprises a new apartment building set over basement, ground and four upper floors.

The first phase was completed last year and achieved a strong level of sales from purchasers looking to capitalise on the demand for high quality holiday accommodation in the area and those wishing to live there and enjoy the spectacular Cornish coastline all year round.

Aaron Strutt, director at Trinity Specialist Finance, says: "UTB is providing £15m of funding towards the completion of Phase 2 of Cliff Edge, which offers 32 apartments ranging in price from £250,000 to well over £1m with the majority enjoying spectacular sea views.

"There is a lot of competition in the specialist finance market to issue developers with funding particularly when they are established firms with a track record of building, selling and making a profit on their builds." 

Orla Costello, Senior Director – Property Development – United Trust Bank said: “We love working with people who are passionate about property and Paul and Helen are exactly that. They have completed many fabulous developments across Cornwall and picked up several awards for exceptional design along the way."

Call Trinity Specialist Finance to secure funding for a development on 020 7016 6151 or book a consultation 

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