|Funding Need||Development funding|
A historic Brentwood country estate once used by Sir Winston Churchill as a weekend retreat is undergoing a £27 million transformation into a new luxury development.
Investment group Propiteer Ltd is developing 39 homes across the 72-acre Brizes Park site, with the scheme set to complete in August 2022. The estate was most recently used as an independent school until 2018 and dates back to 1498.
The developer’s financial adviser Sirius Property Finance approached Shawbrook Bank to fund the construction through to completion with a £17 million development loan.
The transformation of Brizes Park represents a fantastic opportunity for buyers to own a remarkable part of Brentwood’s history and live in one of the most exclusive developments in Essex.
Dave Marshall, owner of Propiteer Ltd added:
"The project is focused on sensitively retaining the estate’s heritage that has been accrued over the last eight centuries, creating contemporary living spaces in an authentically traditional setting.
“A grade two listed Georgian mansion will be sensitively converted into 10 spacious, luxury one to three bed apartments. Stables, old classrooms and other ancillary buildings are being redeveloped into 29 two to four bed homes with private gardens and courtyards. A large barn on the estate will become the scheme’s largest property boasting its own private woodland.
“We’re excited to bring this scheme to market next year which has been made possible through the backing of the team at Shawbrook Bank, who’s swift and dependable support, ensured that the project’s delivery stayed on track.”
Brizes Park is located between the villages of Navestock and Kelvedon Hatch, with local amenities including Bentley Golf Course and celebrity hotspot, Alec’s restaurant.
Stewart Budge, relationship director at Shawbrook Bank, said:
“Brizes Park holds a winning formula for luxury living. Owners will enjoy a unique and peaceful setting while being less than 15 minutes away from Brentwood’s soon-to-be Crossrail terminal for a short journey into central London.
“Propiteer’s strong track record of delivering high-quality leisure and residential property made this an attractive project for us to back. Delivering an eight-figure loan in under six weeks, with the added complexity of financing a scheme already underway, is a testament to the agility of our team.”
Robert Heywood, senior associate at Sirius Property Finance, said:
“This project represents excellent investment for Propiteer and would-be homeowners. Property prices in Brentwood increased by more than 15 per cent during the pandemic*, while falling in nearby prestigious London boroughs**, driven by a desire to move to less crowded spaces and the increased flexibility in working patterns.”
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