News - Midlands

Billingham and Kite secures £800k finance package

A residential property business has begun work on the second phase of a housing development in Stourbridge with support from a £800,000 funding line.

Billingham and Kite, established in the 1960s, is a third-generation family business.

The company's latest project, Pearmain Garden on Western Road in the village of Hagley, is a 38-property development of detached four-bedroom houses.

Two of the completed properties at the development have been sold and there are four currently under construction. The company approached long-term banking provider Lloyds TSB Commercial Banking for funding support for the next phase of the project.

Billingham and Kite currently employs 16 staff and has plans to begin work on a smaller development in Hagley in the spring.

Director David Billingham said: "This is one of our larger developments and is close to great local amenities and a good school. Despite economic uncertainty we've had a lot of positive interest in the properties and we're confident that the houses will sell well."

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