In a significant boost to Cornwall’s housing market, United Trust Bank (UTB) has announced its collaboration with the acclaimed development firm Stephens + Stephens to launch a £23 million luxury apartment complex in Newquay. Named Cliff Edge, this project is set to transform a former hotel site into a modern residential haven, featuring 32 high-end apartments.

The Cliff Edge development, marking the continuation of the site’s rejuvenation, is poised to introduce a contemporary apartment building spanning a basement, ground, and four upper floors. This initiative follows the successful completion of the site’s initial redevelopment phase last year.

With a generous £15 million funding provision from UTB, the second phase of the Cliff Edge project is underway, promising a range of apartments priced from £250,000 to upwards of £1 million. This collaboration represents Stephens + Stephens’ inaugural venture with the bank, highlighting a shared commitment to excellence in property development.

Paul Stephens, representing Stephens + Stephens, expressed enthusiasm about partnering with UTB, praising the bank’s team for their collaborative spirit and dedication to facilitating the project’s successful delivery. He anticipates a fruitful relationship with UTB, looking forward to engaging in future developments together.

Orla Costello, UTB’s senior director of property development, also reflected on the partnership’s positive dynamics, emphasizing the mutual passion for property that has made the collaboration with Paul and Helen Stephens particularly rewarding. Their history of award-winning developments across Cornwall stands as a testament to their commitment to quality and design excellence.

This financial endorsement from UTB, coupled with Stephens + Stephens’ development expertise, is set to bring a new level of luxury living to Cornwall, further enhancing the region’s residential landscape.