The redevelopment of the Shoreham Cement Works, the largest brownfield site in the South East, has taken a step forward with the securing of a five-year loan.
Specialist property lender Cambridge and Counties Bank has provided an initial five-year loan to Dudman Holdings Ltd, which owns the site on the border of Upper Beeding and Shoreham.
The loan will enable the group to progress its strategic ambitions for the site, a spokesman for the bank said.
The Dudman group said it aims to work towards ‘an effective remediation of the site that is also in keeping with its setting’.
The company is working closely with local stakeholders, which include the South Downs National Park.
Kevin Curran, finance director at the Dudman Group, said: “There has been strong political and local pressure for many years to remediate the Shoreham Cement Works site into something more in tune with the surrounding area.
“We are dedicated to delivering an outcome that is acceptable to all stakeholders.
“Cambridge and Counties Bank has been a key partner to the Dudman Group across this initiative, and it has been a refreshing change to find a bank and its people who act in such an efficient and professional way.”
Neil Reddington, business development manager at Cambridge and Counties Bank, said: “We have worked very closely with Kevin and the management team at Dudman Group as they look to the future of the Shoreham site.
“We look forward to seeing the next phase of this initiative.”
The Dudman Group was contacted by the Herald for further comment on plans for the site, but declined to provide any details at this stage.
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