A property company has secured a £22million loan to help deliver 400 new houses in Ashford.

GSE Property Group has agreed to the funding, with the money secured on a 48-acre site with planning agreed for the homes as part of the wider Waterbrook Park development, near Junction 10 of the M20.

The scheme, delivered alongside Mulberry Homes, will see a mixture of two, three and four-bedroom properties built on the site south of the A2070 Bad Münstereifel Road at Sevington. Some 40 of the properties will be 'affordable housing'.

It forms part of the major mixed-use development at Waterbook Park, which has already seen the expansion of an HGV park. An Amazon distribution centre is expected to be up and running in two years at the site, as well as a community hub called The Retreat, housing a farm shop, café and co-working space for those working from home.

The loan has been provided by Octopus Real Estate, a UK specialist real estate lender and investor.

Dominic Gibson, investment director at Octopus Real Estate, said: “As an established local employer and investor, GSE appreciates the acute need for high quality housing stock and has designed a scheme that will significantly enhance the environmental and social quality of the area.

"The loan demonstrates our commitment to high quality borrowers and underlines our continued belief in the importance of supporting regional markets across the UK and Ireland.”

Darrell Healy, chairman at GSE Property Group, addedented: “GSE has delivered high quality development across the region and we’re looking forward to delivering 400 much needed new homes at Waterbrook Park. We share Octopus’ desire for development schemes to make a positive impact on their local environments and markets, so have enjoyed establishing this important new funding relationship.”