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Aldermore provides £8.4m for ultra low-carbon Sheffield scheme

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  • 17/06/2021
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Aldermore provides £8.4m for ultra low-carbon Sheffield scheme
Aldermore Banks has provided £8.4m in development finance to low-carbon developer Citu Group for a 46-unit residential scheme in Sheffield.

 

The project at Kelham Central (pictured) will use modern methods of construction (MMC) to cut construction time and waste, and deliver energy-efficient homes that reduce the occupier’s carbon footprint.

The planned MMC approach includes use of timber panels designed collaboratively with Leeds Beckett University, which will be manufactured at Citu’s facility 35 miles from the site.

The Aldermore-funded units form part of a wider, fully-funded scheme comprising 114 homes in total.

The developer Citu is also close to completing its neighbouring Little Kelham site, which will deliver 153 homes, 15,000 sq ft of retail space and 20,000 sq ft of commercial units.

Iain Bryson, head of development and specialist property at Aldermore, said: “We recognise that MMC plays an increasingly important role in delivering homes. We’re committed to working with construction firms, housebuilders and developers like Citu to fund high-quality, low-carbon, sustainable developments.”

Chris Thompson, managing director of Citu Group, added: “Banks have a large influence in directing funds to climate-conscious projects and businesses, and we welcome Aldermore’s vision in supporting us in bringing this important project to fruition.”

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