Alnwick-based housebuilder Cussins set to increase productivity after securing £14m of funding

The company has been building new homes in the North East since the 1920s and is run by father and son team Peter and Jabin Cussins.

It currently builds 130 homes a year on six sites; from Darlington in the south of the region to north Northumberland, and its main focus is 2-5 bedroom family homes in rural and semi-rural locations.

However, it also started building more contemporary riverside apartments and homes.

Cussins, whose registered office is at Bondgate Within, said the £14m credit facilities from Lloyds marked a critical step in its expansion, enabling it to grow faster, increase the number of properties it builds and access much larger housing schemes.

The money will be used to expand production on development sites across Northumberland and County Durham. Cussins will also look to purchase new areas of land to build on and meet the demand for properties in the region.

Chairman Peter Cussins said: “Our relationship with Lloyds Bank dates back 50 years and we have always found them to be a supportive funding partner. Our continued collaboration is enabling Cussins to grow at a time that is constantly posing challenges for businesses of all sizes.

“We are proud of how the business is expanding to new heights, but still has the same family driving the business forward at its core – four generations after the first Cussins home was built.

"We’re grateful for the support from Lloyds and look forward to working with them on more developments in the future.”

Son Jabin, CEO of Cussins, added: “Lloyds really understands our business and are always on hand to discuss our funding requirements as we continue to expand and establish ourselves within the region.

"With their support, Cussins has expanded rapidly over the past decade and the extended facilities are key to our growth strategy.”

Adam Cackett, relationship director for the North East at Lloyds Bank, said: “This deal provides the business [Cussins] with working capital to support their growth strategy and I look forward to seeing the new projects across the region come to life in the near future.”