£10m investment to accelerate Millwood pipeline

Tonbridge-based Millwood Designer Homes has secured a £10m investment to accelerate its housebuilding programme across Kent, Sussex and Surrey.

Managing director John Elliott said the cash would allow the business to bring forward a greater number of sites over the next four years as the housing market continues to recover.

"The housing market is robust in the South East and there is strong demand for good quality new homes," he added.

"The industry is building homes at the fastest rate for a decade. There is still a long way to go before we meet the current shortfall but we are confident there will be an ever greater requirement for the homes Millwood provides – well-built, energy-efficient, attractive housing that will stand the test of time."

The deal involved an unnamed London-based property investment company. Law firm Cripps advised.

Cripps' Katie Haylock, who worked on the transaction with colleague Phil Cunningham, said: "Its successful completion provides Millwood with the resources to unlock the potential of a large number of its development sites across the South East."

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