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Barnard Castle homes development to generate £38m for local economy

Housebuilder David Wilson Homes North East has announced its Five Acres development in Barnard Castle is set to inject £38m into the Durham region.

The development to build 62 properties, nine of which will be affordable homes, will also support 62 jobs in the area.

As well as the investment, the development is expected to provide increased local retail expenditure of £372k and a New Homes Bonus of almost £500k for the council to invest in local services.

Furthermore, the development is set to inject £10m directly into the town’s local economy, with a £28m investment multiplier to local industry and shops, giving a total investment generated of £38m.

Once complete, Five Acres will comprise of a mixture of two, three, four and five-bedroom family homes in the form of detached, semi-detached and terraced houses.

Neil Milburn, Development Director at Barratt Homes North East, said: “Barnard Castle is really up and coming and we’re proud to be a part of that with this investment.

“Five Acres is set to be an exciting development and the positive impact it will have on the region is great.

“We’re committed to investing in the regions that we build in to provide long term, sustainable housing for future generations.”

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