UP to 30 new homes are set to be built in a location which developers say could be ideal for drives into Manchester, Bury, Blackburn and Burnley.

A 2.5 acre rural site around Johnny Barn Close in Cloughfold, Rossendale, has been set aside for the development which is planned to include three five-bedroom homes, 13 four-bedroom and three three-bedroom detached homes, two three-bedroom semi-detached homes, five starter homes and four shared-ownership homes.

The work will be undertaken by Manchester-based property company Hurstwood Holdings.

Hurstwood Holdings managing director Andy Park said: “Rossendale is one of the most attractive areas of Lancashire, with the new development perfect for first-time buyers, growing families and those looking to move out of cities and get more space, as a result of more flexible working from Covid-19.”

The development has been made possible by a loan of £5.5 million to the Manchester firm from OakNorth Bank, which specialises in small to medium-sized property companies.

Mr Park said: “Despite the current economic uncertainty that we all face, Chris and the team at OakNorth Bank were hugely supportive throughout the whole process, responding quickly to any questions and queries we had.

“Having now completed a number of projects in the region, we know what buyers are looking for and thanks to the current stamp duty incentives, we continue to see strong demand.”

The London-based financiers said they were pleased to have the opportunity to work with a company with regional expertise.

OakNorth Bank senior director for debt finance Chris Swarbrick said: “Hurstwood is a long established and well-respected property investor and developer in the North West, and more recently, nationally. Its management team has over 30 years’ experience in property investment and has been through multiple cycles while continuing to grow, so was well-positioned to weather the challenges presented by the pandemic.

“Given the size of its portfolio and how quickly it keeps growing, we’re sure there will be more opportunities to support this dynamic business in the future and look forward to doing so.”