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Tue June 15 2021

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Strata secures funding for expansion

19 Apr 16 Doncaster-based regional house-builder Strata is planning to build 750 homes a year from 2018 after securing a £50m bank funding package.

 Left to right are Strata MD Mark Rosindale, chief exec Andrew Weaver, chairman Irving Weaver, Lloyds Bank relationship director David Hunt and Strata finance director Julian Davis
Left to right are Strata MD Mark Rosindale, chief exec Andrew Weaver, chairman Irving Weaver, Lloyds Bank relationship director David Hunt and Strata finance director Julian Davis

Privately owned Strata has 16 live sites across Yorkshire and the East Midlands and directly employs around 120 people.

The company, which reported a turnover of close to £100m in its last financial results has a current forward development value of in excess of £500m.

Support for the business’s expansion drive has come from Lloyds Bank Commercial Banking’s mid-markets team in Yorkshire and the bank’s London housebuilding team, which has provided a revolving credit facility, including a £5m overdraft.

Strata financial director Julian Davis said : “Lloyds Bank has worked closely with us to understand our ambitions and has provided a funding package tailored to our requirements. Having this flexible funding in place will enable us to deliver our land acquisition strategy and meet our growth targets with confidence.”

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