UNBOUNCE - HELP GUIDE - LOGO - PORTFOLIO BRADLEY HALL - Flipbook - Page 66
NEWS
NORTH EAST PROPERTY FUND
BUILDING
OPPORTUNITIES
FOR SMALLER
DEVELOPERS
BY TONY CULLEN,
INVESTMENT EXECUTIVE
AT FW CAPITAL
The call to build more houses around North East England
to meet its growing need for high quality housing isn’t
something that only major developers are responding to.
The North East is home to a number of
smaller construction and property
development rms who are designing
and building bespoke projects in
communities right around the region.
Working capital is essential for these
sorts of projects.
But getting the nance to make these
schemes happen can sometimes be a
challenge for smaller businesses.
However, there’s now a specialist £10m
fund, launched just last year, providing a
new opportunity for them to access the
money they require.
Conceived and managed by investment
rm FW Capital, the North East Property
Fund was created in response to strong
demand from small and medium-sized
(SME) construction and property
developers unable to access mainstream
nance from traditional sources.
The fund, which is backed by
Santander and the North East LEP,
provides loans from £250,000 to £1
million for residential and nonspeculative commercial developments in
Tyne & Wear, Northumberland and
County Durham. The rst loan made
from the North East Property Fund has
helped a family-run developer build four,
four-bedroom detached bungalows and
convert a former builder’s oce into a
three-bedroom cottage in a north
Northumberland village.
Work on the properties is now well
advanced, with one house already sold,
and the remainder expected to be ready
for families to move into this Spring. The
North East Property Fund operates on a
commercial basis, and by reinvesting
returns into future projects, it has the
potential to provide over £30 million of
nance over the next ve years.
FW Capital has already received many
enquiries from North East developers
about new property schemes, with
several now at an advanced stage, but we
remain keen to receive even more.
Businesses with ideas that meet the criteria in Tyne and Wear, Northumberland and County Durham should
contact Tony Cullen at FW Capital on 0191 269 6966 or via tony.cullen@fwcapital.co.uk
Full details of the North East Property Fund can be found at www.fwcapital.co.uk
FW Capital is part of the DBW Group. FW Capital is authorised and regulated by the Finance Conduct Authority
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PORTFOLIO MAGAZINE
