Pluto Finance has finalised a £60 million development loan agreement to facilitate a new housing project, Sydney Road, situated in Watford. The funding will be channelled towards the creation of 231 new homes along with 120 parking spaces, marking a significant step in local residential development.

The loan recipient, Signia Living, a Harrow-based property developer known for its substantial projects in Northwest London, has partnered with Pluto Finance on various projects. This collaboration ranges from smaller bridge loans to substantial financial engagements like the current £60 million loan.

This development underscores Pluto Finance’s commitment to partnering with developers to boost the housing supply in the local market. Mario Ioannides, a partner at Pluto Finance, expressed enthusiasm about supporting Signia Living once again, highlighting the project’s potential benefits for the Watford community.

Dhiraj Dabasia, head of development at Signia Living, highlighted the Sydney Road project as a pivotal regeneration development. With Pluto Finance’s backing, Signia Living aims to deliver over 200 new homes, contributing to the company’s ongoing efforts to introduce high-quality housing developments across north and west London.

The partnership between Pluto Finance and Signia Living demonstrates a shared commitment to addressing housing needs and fostering community development through strategic financial and development planning.