Privately-owned Hull construction business, Hall Construction Group, has purchased an incomplete housing development in Preston, just outside Hull.
The two and three bedroom homes will be complete and ready for sale by June 2013 following a new, £750,000, finance agreement with Santander Corporate & Commercial.
The housing development in Preston was started in 2007, but was abandoned a few months later. The homes will be completed quickly, safeguarding numerous jobs and bringing much needed new housing to the area. The site comprises 19 houses, some of which have already been sold and are occupied.
Hall Construction Group dates back more than 125 years and is now owned and managed by the fourth generation of the Hall family; Martin Hall, current chairman and managing director.
The Group specialises in the construction and refurbishment of properties across all sectors and has the benefit of having many parts of its supply chain in-house, which include: bespoke manufactured joinery, plumbing and heating and renewable energy installation such as bio-mass, air source, ground source and anaerobic digestion.
Currently employing more than one hundred full time highly trained staff, the company is set to grow its sales figures and continue to build on its long standing history.
Martin Hall, Hall Construction Group, said:
“I’m pleased that the work at Preston is set to be completed quickly and that jobs have been safeguarded and new homes can be brought to the market. We have been really impressed with the team at Santander, who have taken the time to understand our business and our plans for expansion. I’m looking forward to building our relationship in the future.”
Mick Graham, Relationship Director at Santander Corporate & Commercial, said:
“Martin and the team at Hall Construction run a fantastic business. The business has demonstrated really strong year on year growth and we’re really happy to support them and help with their next steps of expansion.
“At Santander, we want to support good, local businesses with good leaders and I think this arrangement with the Hall Construction Group is a great example of that.”
Andy Churchill from Real Property Finance advised on this deal.