North East real estate firm builds new convenience store following £780k investment

A North East real estate company has announced that it is creating a new convenience store following a six figure investment.

James Southern Real Estate has secured a £780k investment from FW Capital, which manages the North East Property Fund.

The investment is funding the construction of a new Co-op convenience store, which is expected to create up to 20 local jobs when it opens later this year.

James Southern, director of James Southern Real Estate, commented: “We are grateful to the FW Capital and the North East Property Fund for their support.

“With this investment, we have been able to bring a major retailer to Shildon and create job opportunities for local people.”

Tony Cullen, investment executive at FW Capital, said: “We are delighted to have supported this development, which will benefit the local community and provide employment in Shildon for many years to come.

“This is a great example of how the North East Property Fund is able to finance commercial schemes and support the creation of local jobs.”

Andrew Moffat, chair of the Investment Board at the North East LEP, said: “It’s great to see the North East Property Fund doing what it set out to do when it was established, which is to support local construction projects and create jobs by offering short-term loans for small and medium-sized construction and property development companies.

“We look forward to supporting more projects such as the Shildon Co-op development and would encourage interested developers to get in touch.”