Housing business builds on investment
21st Century Housing Group, the property developer based in Coventry, has secured investment of £50,000 from Lloyds TSB Commercial. The bank has now provided more than £2m of funding for the company.
The company, run by directors Jas Sandhu and Kash Chohan, has a portfolio comprising more than 100 properties with a total estimated value in excess of £10m.
The latest funding from the bank was a £50,000 investment towards the purchase of a new property in Coventry, which is now undergoing renovation work.
The group comprises four companies – 21st Century Housing, Probe Marketing, Pan Services and Executive Projects – and deals mostly in the residential buy-to-let market, with some interest in commercial and industrial property.
The majority of the group’s portfolio is located in Coventry, with additional sites in Nottingham.
Since 2005, Lloyds TSB Commercial has provided around £2.2m of funding to enable the group to expand its portfolio.
Jas Sandhu, who is also an associate director of Coventry City Football Club, said: “The Coventry housing market provides a wealth of opportunities for developers like us, and in the past ten years we have grown our portfolio by doing our research and carefully selecting each property.
“The housing market has slowed down over the last year or two, but rather than hinder our growth, this has in some ways benefitted us as it means prices are lower and we have been able to pick up some real bargains.”
