GS8 lands £20m facility to build 52 sustainable homes in Hertfordshire
What's the deal? Sustainable housebuilder GS8Dealroom has a profile for this one. Try Dealroom → has secured a £20m revolving credit facility from Close Brothers Property FinanceDealroom has a profile for this one. Try Dealroom → to fund 52 new homes in Radlett, Hertfordshire. The scheme, known as Medburn Yard, carries a gross development value of £47m.
Why now? The £20m unlocks a four-acre site that had stalled after its previous owner went into administration. GS8 acquired the plot out of receivership.
What's the endgame? Medburn Yard will deliver 38 private and 14 affordable homes, ranging from one to four bedrooms, alongside the conversion of a Grade II listed barn. The deal is the first between GS8 and Close Brothers Property Finance.
The backers' view: Phil Hooper, chief executive officer of Close Brothers Property Finance, said GS8 is "setting a new benchmark for sustainable housebuilding in the UK." He added that the developer's approach is "proving exceptionally popular with buyers in what remains a challenging sales market."
The signal: The facility shows lenders backing sustainability-focused developers even amid a tough sales market — and reviving stalled sites in the process. GS8 co-founder Josh Gordon said the scheme demonstrates "what is possible when beautiful design, heritage and sustainability are treated as a single brief rather than competing priorities."
Read more: The Intermediary
