ANOTHER prospective housing development in the borough has received financial assistance from a loans scheme.

Combined authority councillors have passed a £1.25m loan to Belmont Property Investments for a Prestwich project.

Under the GM Housing Loans Investment Fund programme, the firm has been given the cash to support the construction of four new homes at a site in Park Road.

Councillors have been told there is no planning agreement, or affordable housing provision, because of the small scale of the development.

Paul Dennett, portfolio lead for housing, said in a report: “The loan will be conditional upon a satisfactory outcome of detailed due diligence and ongoing confirmation from a monitoring surveyor acting on the fund’s behalf that the scheme is being delivered satisfactorily.”

More than £3.95m was given to support plans to revive the former Bury magistrates courthouse in Tenterden Street.