Multimillion-pound funding deal sealed for build to rent scheme – The Business Desk

A deal has been struck to forward fund a £10.2m Build to Rent scheme in Walsall which is set to create 66 houses.

Gatehouse UK Private Rented Fund I, which is advised by Gatehouse Bank and in which the bank is a co-investor, has agreed the investment to fund the construction of the scheme at Raleigh Street comprising 23 two-bed, 39 three-bed and four, four-bed houses, which is being built by Vistry Partnerships.

Work on the Raleigh Street site in the Birchills area of Walsall began in September last year and is expected to be concluded by the summer of 2022.

The land was previously occupied by the Harvestime Bakery, which at its peak was one of the biggest employers in the area but has stood vacant for years after the business stopped operating in 2012.

Paul Stockwell, chief commercial officer at Gatehouse Bank, said: “Gatehouse has a proven track record

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