Text only
Tuntum has agreed a new loan facility of £10 million with Lloyds Banking Group. This is the first time that the Association has borrowed money from this bank and the facility will enable Tuntum to develop a further 150 new homes over the next three years when matched with government subsidy through the Homes and Communities Agency.
Tuntum has taken advantage of current market conditions to purchase from Bovis Homes 30 new properties to rent in Hucknall and Kirkby-in-Ashfield. These are a mix of family houses and apartments, all built to a high specification as they were initially built for sale. This is our first development scheme with Bovis Homes and our first partnership with Ashfield District Council.
Work has now started on the demolition of 24 flats formerly owned by Nottingham City Council on the St Anns 10 Estate off Loughborough Road. The flats have been empty for some years and have been a real eyesore for people in the area.
After the demolition, Tuntum will be building 32 new apartments for people over the age of 55. In addition, the scheme will also include a small Health Spa for residents and people living in the area over the age of 55.
The apartments will be adjacent to the Balisier Court Sheltered Scheme and will offer a secure and safe environments for residents.
This new scheme is being financed with subsidy from the Homes and Communities Agency and Nottingham City Council and with loan finance from Lloyds Bank Group.