Cala Finance is supporting a £2 million new homes project in one of the most sought after locations in Worcestershire.
The Birmingham-based firm, part of Cala Group, is backing Droitwich-based Millbridge Homes' development of seven, two, three and four-bedroom houses in the village of Kempsey, five miles south of Worcester.
Cala Finance will provide 100 per cent of the cost of the development in return for a share of the profits.
The scheme on Main Road, Kempsey, will see the refurbishment of two existing houses and the construction of five new houses on garden land and the site of former brick workshops.
Paul Cartwright, director of Millbridge Homes, believes the new development will be especially appealing to purchasers looking for an exclusive family home in a village environment.
"Kempsey is one of the most sought after residential locations within commuting distance of Worcester. We believe that we will attract purchasers moving out of the city of Worcester to enjoy the surrounding countryside, as well as local people," said Mr Cartwright.
This will be Millbridge Homes' third residential development. The company was founded in 2005 by Mr Cartwright, who has more than 25 years experience in the housebuilding industry.
Ken Phillips, Birmingham-based managing director of Cala Finance in the Midlands, said: "We are pleased to be funding Millbridge Homes on this development.
"We acquired the two houses without planning permission and worked together with Paul to gain consent for the new scheme, having recognised the potential of the site."
He added: "Millbridge Homes is typical of the companies with which we work across the Midlands. Our 100 per cent financing package and consultancy has helped them develop faster, while minimising risk to their business."
