A new property development in a much sought-after area of east Belfast has secured over £1million in funding from Ulster Bank to support construction costs.
The development, Shandon Park Lane, backs onto Shandon Park Golf Club and is within walking distance of Ballyhackamore, which topped The Sunday Times ‘Best Places to Live in Northern Ireland’ list earlier this year.
The £2million development features three detached properties, each on the market for £675,000.
Developed by Flynn Residential, each three-storey property benefits from a modern and high specification finish spread over 3,300 sq ft and featuring up to seven bedrooms.
Demand is very high, according to Aidan Flynn, Managing Director at Flynn.
“We’re seeing increasing appetite for high-quality newbuild homes and that’s evidenced through the high volume of queries selling agent UPS is fielding and by the fact that one site has already been booked for purchase,” he said.
He said in the early stages of this development, they approached all the main lenders with proposals for the future of Shandon Park Lane.
“Ulster Bank were competitive and attentive and have shown their commitment by the level of support they’ve offered throughout the lifespan of the project.
“After construction had commenced we had the opportunity to acquire an additional plot of land to further increase the scope of the development and Ulster Bank was on hand to facilitate that purchase which has enhanced our original scheme,” he added.
Gary Barr, Relationship Director, Commercial Real Estate at Ulster Bank, said the work with Flynn is a new relationship at Ulster Bank.
Flynn, a family-owned business based in Belfast, is a leading building and maintenance firm with a 40-year history.