A North East developer is creating new family homes in County Durham following investment through FW Capital.
Dan Greener has secured a six-figure funding package from the North East Property Fund (NEPF) to create the three new homes at Station Town near Durham – his second regional development. Work is being carried out to include sustainable features such as triple glazing, solar panels and EV chargers, and the homes will also include home office space. The properties are due to be completed late this year.
The North East Property Fund is an investment programme managed by FW Capital and backed by the North East Combined Authority (North East CA).
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Mr Greener said: “This is my second development, having previously completing a one-off new build housing project. The Station Town site is a small but perfectly formed site of three homes, positioned with fields at the front and rear of the plots. The backing of FW Capital has helped me to get the development off the ground and I’ve been impressed with Lewis’ support. We’ve built up a good relationship and I consider FW Capital to be a development partner rather than just a funder. I’m looking out for other developments to progress and hope to work with FW Capital on these.”
Lewis Blakelock, Investment Executive at FW Capital said: “It’s been great to help Dan bring forward his second development. This is a great example of how the North East Property Fund can support new developers with residential property schemes. Dan has done a brilliant job at bringing sustainable homes to the market and meet the rising demand for affordable, quality homes.”
The North East Property Fund offers loans from £250,000 up to £2m for residential and non-speculative commercial developments in Tyne and Wear, Northumberland and County Durham. Since its launch in 2017 it has reached the investment milestone of £50m, supporting the construction of 227 houses across 51 developments and the creation of 7,589 sq. ft of commercial space.