£700k investment funds new South Tyneside homes

New family homes have been built on the site of a former school kitchen following a six-figure investment.

North Road (Boldon) Developments received a £700k investment from FW Capital, which manages the North East Property Fund.

The loan is being used to complete the construction of five family homes in Boldon Colliery, South Tyneside.

The development, on disused land, marks the first investment the North East Property Fund has made in South Tyneside.

Lee Brown, North Road (Boldon) Developments director, commented: “These five properties have been beautifully designed, with the site also having excellent links to both the local public transport system and the A19.

“We were very grateful to FW Capital and the North East Property Fund for their support and investment.”

Tony Cullen, investment executive at FW Capital, said: “We are very happy to see the North East Property Fund helping with the creation of new high-quality family homes, especially on this specific piece of land that was long overdue for development.

“This is the first investment we have made in South Tyneside and we hope this marks the start of a long standing relationship with the North Road (Boldon) team.”

Debbie Sinclair, head of sales and marketing at Andrew Craig, added: “We are the appointed agents working alongside Colin Lilley on the sale of this exciting development.

“It’s a real pleasure to work with local builders who understand the importance of supporting the local community and given the quality of the homes and the location, I have no doubt it will prove very popular.”