LendInvest Mortgages has provided £3.74m in funding for a new residential development on the site of a disused builders’ merchant in Wokingham.

The project will see the demolition of existing buildings on the former Jewsons site, making way for a three-storey block of 14 apartments, including two affordable units.

The scheme will deliver six one-bedroom and eight two-bedroom homes close to the town centre.

The funding package combines a land loan with a construction facility and was arranged for an existing buy-to-let client of LendInvest, introduced through one of the firm’s debt advisory partners.

Steve Larkin (pictured), managing director for development at LendInvest, said: “This development is a great example of transforming former commercial premises into a residential area, supplying 14 new living spaces close to Wokingham’s town centre.

“At LendInvest, we’ve always been committed to supporting SME developers, and this project underscores our commitment.

“The UK needs more high-quality housing, and we’re looking forward to seeing the potential that this new development can bring to the area.”