Nine new homes delivered on the edge of Woodhall Spa

The development

This scheme is located around 1.5 miles east of Woodhall Spa, on the edge of a well-established residential area. The site sits alongside similar homes previously developed by Seagate Homes with the road into the village lined with detached properties. 

The developer delivered nine detached bungalows, each designed with three bedrooms, two bathrooms, double garages and private gardens. The homes are built in red brick with tiled roofs, in keeping with the local character. 

Woodhall Spa itself is a well-known Edwardian village, set among pine woods and open countryside. With its RAF heritage, strong community feel and popular golf course, it continues to attract buyers looking for a quieter pace of life. 

The funding requirement

The project was supported by senior funding from BLG, with additional capital required to assist with build costs. As is often the case on smaller residential schemes, the senior lender’s facility did not fully cover the total development requirement. The developer therefore needed a further layer of funding to complete the structure without increasing equity input. 

The funding solution

Property Box Finance provided a £260,000 mezzanine facility, structured behind the senior lender.

The facility supported the build phase, allowing the developer to maintain momentum on site and deliver the scheme as planned. The structure was straightforward, sitting alongside the senior debt without adding unnecessary complexity. 

The outcome

The development was completed successfully and forms part of the continued growth of this area on the edge of Woodhall Spa. The scheme reflects steady demand for well-designed homes in strong regional locations, particularly for buyers seeking lower-density living outside larger towns and cities. 

Scott Arnot, business development director at Property Box Finance, said: “This was a well-positioned scheme with a developer who knows the area well. Our role was to support the build with an additional layer of funding, working alongside the senior lender to keep the project moving.”