Beyond the Build: Sparta Homes

Keir Morris, Senior Relationship Director, Development Finance at Shawbrook has known Reg Pangali, founder of Sparta Homes Ltd, for several years and is currently supporting him on his fourth Shawbrook-backed development.

Together, they’ve worked across developments in Maidenhead, Bracknell and Holmer Green, with five new homes currently underway in Didcot. While the schemes have varied, Reg’s approach to them hasn’t: careful planning, realistic budgets and a clear view of how he’ll respond if circumstances change.

For Keir, the foundation of the relationship is built around trust.

"Reg will often call me when he's looking at an opportunity and ask what I think. I know I can rely on his budgets and, if something changes, he'll tell us early so we can work through it together."

Building the business

Before focusing full-time on property development, Reg had spent much of his career running successful family businesses across different industries.

Property was already part of that journey. Having gained experience through earlier residential developments in 2012 and 2019, Reg made development his full-time focus in 2022 and has continued building the Sparta Homes Ltd business since.

That commercial background is something Keir recognised early in the relationship.

"Reg is very considered in the way he approaches a development. He understands his numbers, works with a contractor who has consistently delivered for him and knows what he wants to achieve before he starts."

For Reg, working repeatedly with the same lender has also made the process more straightforward.

"Working with Keir is simple because we understand how each other works. I know what Keir and Shawbrook need from me, and he listens to what I'm trying to achieve. That understanding is what helps get things done, and is priceless’’

Four developments, one evolving relationship

Shawbrook's first development with Sparta Homes Ltd comprised two new-build homes outside Maidenhead.

Two new build homes in Maidenhead

That was followed by apartments in Bracknell, three homes at Holmer Green near High Wycombe and, currently, five new homes in Didcot.
Reg has worked with the same contractor across all developments, with schemes consistently completing on time and on budget. 

When the market changes, the plan must adapt

While Sparta Homes Ltd.’s developments have generally progressed to plan, slower residential sales have sometimes required a different approach at exit.

At Maidenhead, the intention was to sell both homes. When sales took longer than anticipated, Reg sold one and refinanced the other for longer-term hold.

That experience also influenced his approach elsewhere. At Bracknell, Reg retained the apartments, which are now let and generating an ongoing income. More recently at Holmer Green, additional time has allowed sales to progress while the remaining property have been refinanced for longer-term hold. 

Three new homes in Holmer Green

For Reg, adapting doesn't mean abandoning the plan. It means having considered the alternatives before they're needed.

"I always look at Plan B when I'm running the numbers. You never know what the market will look like 12 or 18 months after you break ground, so I need to know that if Plan B comes into play, it still makes sense."

It's an approach Keir has seen become increasingly important.
"The key is having conversations early. Reg thinks about the alternatives upfront and talks to us if something changes. That gives us much more opportunity to work through the options together."

Reg agrees: "No lender likes surprises. Being transparent and talking about things early is key. Shawbrook has supported me when the market has changed and has never swayed me into a decision I'm not comfortable with."

Working through complexity

Not every challenge comes at the end of a development. Sometimes the complexity appears much earlier, and that’s where an established relationship can make a real difference.

At Bracknell, an access issue needed to be worked through before funding could proceed. Keir was able to bring in the right people internally, understand the detail and agree a practical way forward.

Residential apartment scheme in Bracknell

For Keir, that reflects how the relationship has developed over time: knowing how Reg approaches a scheme, understanding what he is trying to achieve and being able to work through issues together when they arise.

For Reg, the value of that familiarity is one of the reasons the relationship has continued from one development to the next.

"People ask why I don't go to other lenders, but my answer is simple. With a new lender, I have to prove myself all over again. When I already have a good relationship with a lender that understands my business and supports me, why go elsewhere?"

Beyond the build

Sparta Homes has delivered homes for both sale and rent, with the current Didcot development adding a further five new homes on completion.

For Reg, the outcome is about more than completing a development and moving onto the next one.

"I'm proud of everything we've built. Every development is different and has its own challenges, but I'd like to think we've delivered homes that people love living in and that fit into their surroundings."

The projects have also helped Sparta Homes Ltd establish a growing rental portfolio and build a track record that gives Reg confidence to consider new opportunities.

"One of the most important things for me is creating confidence with my lender that I'm a trustworthy and reliable developer who does what he says he'll do."

Looking ahead

The five-home development in Didcot is progressing well, with completion expected towards the end of October 2026. After that, Reg plans to take a short break before looking for his next opportunity.

For Reg, the next chapter isn't about pursuing scale for the sake of it. He plans to remain closely involved in each development and keep the business at a level that works for him.

"I'd like to carry on as I am because it works for me. I'm in control, I'm not overly committed and I can manage the projects properly to make sure they're delivered on time, to a good quality and, most importantly, on budget."

It’s an approach Keir has seen work throughout their relationship. The projects and market conditions may have changed, but the way they work together hasn’t. They understand the opportunity, plan for different outcomes and talk openly when circumstances change.

It’s a strong foundation for whatever opportunity Reg decides to take on next.