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Thu June 24 2021

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Telford Homes armed for London developments

12 Jun 13 Housebuilder Telford Homes is proposing to raise £20m through a share placing.

A Telford Homes development in Walthamstow
A Telford Homes development in Walthamstow

The net proceeds, expected to be £19.24m, will be used for new development opportunities in London.

Chief executive Jon Di-Stefano said:  "Together with our increased bank facility secured in April 2013 the equity raised will give the group nearly £50m to invest in new development opportunities, some of which have already been identified.  This investment will accelerate the growth of Telford Homes and underlines our belief in the long term future of the housing market in London."

The company also said that it expects to join the government's Help to Buy equity loan scheme in the next few weeks.

Telford Homes has a development pipeline of 2,260 homes that are expected to deliver over £650m of revenue over the next three to four years. 

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MPU

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