Member Article

Luxury water-side community opens near Preston

A Preston based luxury property developer has launched a new £4.6 million luxury gated community in rural Lancashire, with support from Lloyds Bank Commercial Banking.

Edgewater Oaks is developer 10ACIA’s new canal-side development on Lea Road near Bridge End. The scheme consists of a number of five-bedroom, fully furnished bespoke properties offering contemporary living in a rural setting less than five miles from Preston city centre and main UK motorway access.

The project was funded with the support of a private investment consortium and a £1.6 million development facility from Lloyds Bank. The funding forms part of the bank’s commitment to lend £1.3 billion to firms in the North West during 2019.

10ACIA was formed in 2013 when founder, David Price, invested just £6,000 in renovating a terraced house in Preston. The multi award-winning developer, who was recently named ‘Entrepreneur of the Year’, has since consecutively doubled the size of each project completed.

Now the company, which operates across the North West, has set its sights on another local development with capacity for upwards of 52 new homes, marking a significant step up for the business.

David Price, founder and director at 10ACIA, said: “We’re incredibly passionate about creating homes with unrivalled design and a space which people can flourish in. Whatever we do, we make sure it’s categorically the best in the area, and it’s our attention to detail that sets us apart from other developers.

“We’ve already had incredible interest and sales off plan, from private buyers and even unsolicited investors from London and Singapore. Having the team at Lloyds Bank by our side throughout, has made the journey seamless, and the support has been second to none. The initial success of the project has given us the confidence to continue to grow and develop additional homes for residents across the North West.

“Eventually, we’d like to be in a position to develop up to five sites a year and diversify our developments to include properties in a range of sizes, offering incredible design and value to ensure they’re the best of their kind.”

Dale Parkinson, relationship manager at Lloyds Bank Commercial Banking, said: “We’re proud to provide the tailored funding that firms like 10ACIA need as part of our commitment to help Britain prosper.

“With economic centres like Liverpool, Manchester and Preston on the rise, North West house prices are set to increase by a quarter in the next five years, making it an attractive proposition for developers. It’s key though that new housing is delivered with quality across the scale so it’s pleasing to see David and his team continue to embody that approach with this latest project.”

This was posted in Bdaily's Members' News section by James Stewart .