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Progress at Horse Market Kettering

Clearwell Capital's Head of Origination and Head of Loan Management recently visited the progressing development scheme at Horse Market Kettering and captured a birds eye view of the site

“The Kettering Horse Market development is 20,000 sq. ft of residential accommodation and commercial space providing 16 one bed flats and 12 two bed flats in the centre of Kettering.  It is a flagship development for Clearwell and the largest loan we have made to-date.

Work started in October 2022 and is due to finish in February 2024, but unusually for a project of this complexity it is on target to finish a month early.

Our aim at Clearwell is to work alongside our developers, supporting them to ensure the smooth running of their project towards its successful completion. We understand that cashflow is critical and we endeavour to pay our developer within 24 hours of receiving the QS certificate. We make it our priority to ensure drawdowns are delivered on time and in line with expectations and this has been a key factor in keeping the scheme on track.

We have maintained a close relationship with the project manager, monitoring surveyor and developer and regular site visits have enabled us to identify any potential issues before they become problems. The project hasn’t been without its challenges. Its busy, town centre location was a huge constraint, making the delivery of steel girders to the site logistically difficult with not all the materials delivered on time. The discovery of a functioning drainage point during excavation however was an unexpected bonus, saving both time and money.

The team at Clearwell are passionate about construction and development and we want to see great buildings developed where they are needed. This ambitious project, which took four years to gain planning permission, will meet the demand for accommodation for young professionals and those looking to rent. Its bold glass frontage design will also make an attractive addition to the town and we’re delighted to have played our part in it.”  

Get in touch with one of our experts to find out how we can help you to secure development finance for your next project. We are industry experts specialised in the development finance sector and are happy to help however we can.

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