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Lloyds TSB Corporate Markets

Choices for Grahame Park receives a £35 million funding boost from Lloyds TSB

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The challenge

Grahame Park is London Borough of Barnet’s largest housing estate with 1,777 homes built by the Greater London Council in the 1970s. The estate has been in need of regeneration for some time, due in part to its design which isolates it from the surrounding area.

Choices for Grahame Park was established by the Genesis Housing Group as an urban renewal scheme to regenerate the estate. The rebuilding programme plans to demolish 1,314 homes and redevelop the site with 3,000 new properties.

Choices for Grahame Park required:

  • Fast track funding to form part of the first phase of the £500 million urban renewal scheme.
  • Flexible facilities tailored to the public sector.

The solution

Lloyds TSB’s specialist Public and Community Sector team provided a £35 million development loan to help finance the building of 953 homes as part of the first phase of the regeneration project.

The properties will be a mixture of affordable housing and homes for sale on the open market, together with £5.6 million of social and community buildings including a library, community centre and retail space.

This project will reorientate the estate, connecting it with the surrounding area and integrating homes and services. The estate will also benefit from new community and retail services.

Luke Riley, Project Director, Choices for Grahame Park explained: 

“We were really impressed with the facilities that the Bank offered and their understanding of the funding needs of the public sector”.

Mark Amis, Relationship Director and Head of Social Housing (London), Lloyds TSB Corporate Markets commented: 

“Choices for Grahame Park is a great example of vital social regeneration. We are proud to have been involved with this award winning project and remain committed to developing innovative and flexible funding for other such projects in the sector.”

Why Lloyds TSB Corporate Markets?

  • Lloyds TSB Corporate Markets has a dedicated public sector team who understand the needs and complexities involved in such a large scale public sector scheme.
  • Flexible funding solutions tailored specifically to the public sector.

To find out how the Public and Community Sector team within Lloyds TSB Corporate Markets can help your business, contact us.

 

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