A Northumberland farmer has secured a seven-figure investment to launch his first property development in a village.

Arable farmer Bruce Martin has launched Galagate Developments in moves to create new family homes in the county, and he has now received funding from the North East Property Fund (NEPF), a programme backed by the North East Combined Authority and managed by FW Capital.

He is now ploughing the funds into the construction of three stone-built conversions and five new build detached houses in Norham. The first phase of the project consists of the three conversions, due to be finished towards the end of year. Berwick based contractor MT Richardson is carrying out the construction work, with support from CSY Architects, also in Berwick.

Mr Martin, director at Galagate Developments said: “I’m an arable farmer by trade and this is our first property development scheme, which is already generating great interest. This development is in a picturesque location in the heart of Norham. Work on the site is progressing well, with a lot of interest already in the homes.

“The development is expected to be ready by the end of this year, with each conversion finished to the highest standard. I’ve also been very pleased with the support from FW Capital. Communication has been great with Tony Cullen and he’s ensured everything has run smoothly. Without their financial backing this wouldn’t be happening.”

Tony Cullen, fund manager at FW Capital said: “Norham is lovely village in North Northumberland close to the Scottish border. This is one of many schemes we have supported in the area having previously backed schemes in Berwick and Branxton. The investment has provided work for local contractor MT Richardson and CSY Architects which is providing a further boost to the local economy.”

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. The fund can provide up to 100% of build costs for suitable schemes with repayment terms available up to two years.

The fund was established seven years ago to meet demands for smaller construction and property development financing. Since the fund started in 2017, FW Capital has reached the investment milestone of £50m, helping the construction of 227 houses across 51 developments, as well as the creation of almost 8,000 sqft of commercial space and it has created and safeguarded 750 jobs.