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Lloyds boost for new estate.

Aresidential property business has begun work on the second phase of a housing development in Hagley with support from a PS800,000 funding line from Lloyds TSB Commercial Banking.

Billingham and Kite, established in the 1960s in Stourbridge, is a third generation family business which builds high quality homes in the area. The company's latest project, Pearmain Garden on Western Road in the village of Hagley, is a 38 property development of detached four-bedroom homes.

Two of the completed properties at the development have now been sold and there are four houses currently under construction. Work is due for completion in 2016 and to embark on the next phase of the build the business approached long term banking provider Lloyds TSB Commercial Banking for funding support.

The business currently employs 16 members of staff and has plans to begin work on a smaller development in Hagley in the spring, which will feature four houses and a bungalow.

David Billingham, director at Billingham and Kite, said: "With the support from Lloyds TSB Commercial Banking we are looking forward to embarking on the next stage of the build. The team at the bank has always been supportive of our plans and the funding we have received has been instrumental to the continuation of the project."

Harvey Sandford, relationship director at Lloyds TSB Commercial Banking, said: "We have a long-standing relationship with Billingham and Kite having supported the business with previous successful development projects. The team has a strong understanding of what people are looking for in a home."

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David Billingham of Billingham and Kite and Harvey Sandford of Lloyds TSB Commercial Banking
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Title Annotation:Business
Publication:The Birmingham Post (England)
Date:Apr 4, 2013
Words:272
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