Silbury Finance has provided a £67m senior loan to MCR Property Group to fund the development of 341 homes, a mix of for sale and rent, in the commuter town of Bedford.

Located on Dallas Road, two miles south-west of Bedford town centre, planning has been secured for the phased development of 297 primarily one and two bed flats for private sale, 28 town houses and 16 shared ownership properties. Every home features a private outdoor space and underground parking bay.  

Gavin Eustace, CEO of Silbury Finance commented: “Whilst other pockets of the market retrench, we continue to support the delivery of well connected, affordably priced, mixed tenure schemes that appeal to a diverse range of customers – in this case commuters, downsizers and families – in key regional markets. Looking through the near-term macroeconomic volatility, the UK faces an acute shortage of new homes for both sale and rent, and it will be dynamic, established developers like MCR who will be key to solving the current crisis.”

Expected to complete in Q3 2025, the homes will be built to a high sustainability specification, with future residents benefitting from the sites proximity to Bedford town centre and railway station, both being a 15 minutes’ walk from the site, with the latter connecting to Central London in under 35 minutes.

Aneel Mussarat, Founder of MCR Property Group, said: “We remain committed to delivering high quality, sustainable homes across the UK, alongside long-term trusted partners like Silbury, who have now supported us across three developments, and truly understand both the challenges and opportunities of operating against the current backdrop.”