Dynamic decision making for a visionary development

£75 million funding

Curo Places Limited (“Curo”) is a not-for-profit housing and support organisation based in Bath, that manages 12,000 homes and builds approximately 300 new homes every year, across the west of England.

In 2013, Curo purchased the former Ministry of Defence site at Foxhill, Bath, with the aim of regenerating not only this site, but also the existing adjacent development it already owned.

Curo needed a lender that would share their vision to create a unified, vibrant and well-connected community development and work with them swiftly as the consultation process and plans gathered momentum.

The new development was named Mulberry Park, following a competition amongst local residents. It will provide not only housing, but also an integrated community infrastructure to enrich the lives of residents, including a 210-place primary school, community hub building and an arts pavilion.

In addition, Curo has looked carefully and closely at the needs of residents by planning to sponsor a bus service to nearby Bath and provide bike racks.

Such an expansive and visionary development needed a lender with experience and swift decision making, which Curo found in M&G.

Ian McLeod, Head of Treasury Services, Curo, said, “There was no convoluted process with M&G. We received heads of terms within a week. M&G was insightful, quick and very easy to do business with.”

Mark Davie, Head of Social Housing, M&G Investments, said, “This is an astounding development and Curo impressed us immensely with their vision for the community. We are delighted to be supporting them and for the opportunity to demonstrate how working with us can be so simple and straightforward.”

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