North East property developer benefits from £1m investment to build new homes

A North East property developer has received a £1m investment to build new homes in County Durham.

Bell Blue Ltd will use the funding from the North East Property Fund (NEPF) via FW Capital to build five new homes on the site of a former equestrian centre in Howden-le-Wear.

NEPF has previously supported Bell Blue, following on from a £375,000 investment in 2019 which funded a successful small scheme in nearby Toft Hill.

FW Capital Investment Executive Tony Cullen said: “FW Capital aims to be a long-term funding partner building trusted relationships with the customers we work with so we are delighted to provide this follow-on investment.

“As with the previous Bell Blue development we supported in 2019, the design of these homes is of the highest quality and interest has been high, with two of the homes already reserved.

“The investment has provided jobs for local tradespeople, has benefitted the local economy and has provided a new development of modern family homes. We are delighted to have continued our relationship with Matt and the team and supported them with this project.”

Matt Houghton, Bell Blue Director, said: “Having previously successfully completed our Toft Hill development in 2019 with the support of FW Capital, we turned to them again to help us with our latest scheme.

“Work on the site is progressing well, with a lot of interest already in the homes. We are grateful to FW Capital for their ongoing support and would highly recommend them as a trusted funding partner.”

Andrew Moffat CBE, Chair of the Investment Board at the North East LEP, said: “Supporting local developers and communities is the prime goal of the North East Property Fund so to confirm a second round of funding for Bell Blue is a really positive development. We hope this encourages other developers to apply for their schemes too.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →