Derelict Berwick farmhouse to become site of new homes with £500k investment
A derelict farmhouse is set to be transformed into new homes following a £500k investment.
Mattwood Developments has secured the loan from FW Capital, which manages the North East Property Fund, for the redevelopment of the building at 44 Walkergate in Berwick town centre.
The farmhouse, which dates back to the 19 th century, had fallen into disrepair in recent years, with the funding allowing for a full renovation, alongside the construction of two new four bedroom homes.
Work is due to be completed on the project by the end of this year.
John Matthewson, Mattwood Developments’ director, commented: “This is a sympathetic restoration of a beautiful Victorian farmhouse to create three new homes in Berwick town centre.
“FW Capital is a fantastic funding partner. The North East Property Fund team were supportive and helpful and it was a straightforward process to obtain the funding we required.”
David Pesarra, investment executive at FW Capital, said: “FW Capital’s North East Property Fund prides itself on funding within the region, financing local developers and the areas they operate in.
I’m delighted to be supporting Mattwood and our first scheme in North Northumberland.
This investment has facilitated the development of three high-quality properties by a local business, bringing new homes and investment into the centre of Berwick.“
Andrew Moffat, chair of the North East LEP Investment Board, added: “I am delighted that the North East LEP, through FW Capital’s North East Property Fund, is able to support investments like this.
“It’s also really encouraging to see much needed developments like 44 Walkergate continue during this time, employing local people and bringing investment to a rural town.”
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