FW Capital

FW Capital provides funding for eco-friendly homes

FW Capital has provided a £750,000 facility to W&D Christie Developments Ltd to transform the site of a former garage into 14 eco-friendly family homes in New Penshaw, Houghton-le-Spring.

The investment for the construction of the three-bedroom, semi-detached houses was made through the North East Property Fund, managed by FW Capital.

The development is set to deliver high eco performance homes with an energy efficiency level above most new houses.

The properties are being built using Flitcraft timber frames, which deliver a zero-carbon solution.

David Christie, director at W&D Christie Developments, said: “We are grateful to the FW Capital and the North East Property Fund for their support, which helped us realise our ambition to create this development of 14 new eco-friendly family homes.”

The North East Property Fund – backed by Santander and the North East Local Enterprise Partnership – offers loans from £250,000 to £1m for residential and non-speculative commercial developments.

The fund can provide up to 100% of build costs for suitable schemes with repayment terms available up to two years.

Tony Cullen, investment executive at FW Capital, added: “These high-quality properties are energy efficient and sustainable and it’s important to FW Capital to support schemes with such a positive environmental impact.

“These homes are designed to be affordable and ensure the local community benefits for years to come.

“This is the first scheme the fund has supported in the Sunderland local authority area.

“We are keen to support more businesses with developments in Wearside and would like to hear from anyone interested in how we can help.”

The development is being project managed by Bob Edwards of Flitcraft Ltd on behalf of directors David and Billy Christie.

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