Basingstoke-based Bewley Homes has extended its banking facility to £110 million as the business underpins its expansion plans for the next three years.
The housebuilder has signed an increased credit facility with HSBC UK and Lloyds Bank superseding its previous facility.
With over 350 schemes built over three decades, Bewley Homes aims to increase its turnover from £155m in 2021 to circa £225m by 2024. The arrangement will give Bewley Homes increased liquidity and capacity to grow the business, including planned expansion into adjacent geographical areas.
Andrew Brooks, Managing Director at Bewley Homes, said:
“We will be looking to further strengthen all areas of the business - operational, financial and IT systems, investing in new technology as well as the senior management team.”
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