Woodgate, Pease Pottage

This joint venture between Abri and Thakeham will create places people want to call home. Located between the city and the sea, this exciting development will include over 600 new homes, a primary school, a shop and a coffee shop, a community centre, plenty of parks and a pavilion.

The development will also provide a home for locally based charity, St Catherine’s Hospice, and is expected to be developed within eight years.

We are pleased to announce we have raised third party financing. Barclays, one of our core lenders, has provided a £16m non-recourse development facility to the joint venture entity on attractive terms.

This will support the construction of the first phase of development at Pease Pottage, which involves 156 homes. Detailed design work for the remaining phases is underway, with the secured financing enabling the progression of this.

This deal represents the first major financial transaction for the new organisation. Together, we can build more homes and support the communities where we work by facilitating access to employment opportunities, training and support services. Securing this finance demonstrates the impressive capabilities of our organisations coming together as one. We have been working with Centrus on the structuring of the financing for the project since early 2019 and examined a number of potential funding routes before selecting Barclays.