TGF has agreed a long-term joint venture with Hassett Homes that will see it provide equity and arrange senior debt as the housebuilder looks to deliver three local projects worth £12m
Housebuilder Hasset Homes has secured a deal with business finance provider TGF Capital that will allow it to deliver three Liverpool projects worth a combined £12m.
TGF has agreed a long-term joint venture with Hassett that will see it provide equity and arrange the senior debt to support current and future site acquisitions for the emerging Liverpool company, led by managing director Jamie Blennerhassett.
“There are unique opportunities in the land market presently and our tie up with TGF Capital will enable us to capitalise on them and scale up,” explained Mr Blennerhassett.
“Market fundamentals remain strong and, whilst the impact of COVID-19 cannot be underestimated, the underlying strengths of the housing market are such that we expect demand and sales to remain buoyant.”
Steven Peck of TGF Capital, said discussions were ongoing to form a JV board between the two organisations. He added: “We see the opportunity for a strategic partnership here that can deliver on the ambitions of various local authorities in the North West for housing growth.
“Hassett Homes has a number of house types that provide outstanding value and design at each given price point and we see the company as a disruptor brand in what is a quite traditional sector.”