Northumberland developer to deliver new ‘luxury’ homes via seven-figure investment

Allendale based Stonedale Developments is building six new luxury homes after receiving a seven-figure investment managed by FW Capital from the North East Property Fund (NEPF).

This has helped to create five jobs locally including stonemasons and an apprentice. The NEPF supports the development of small-scale property schemes and is funded by the North East Local Enterprise Partnership (LEP).

This latest investment is supporting the completion of the Meadow View project alongside partial investment provided by Stonedale Developments. The stunning stone built homes have attracted much interest, with all six properties under offer following their release to market.

Located on Splitty Lane, Catton, Hexham the site consists of two bungalows with three/ four bedrooms, two four bedroom detached homes and two five bedroom detached homes. Each home boasts eco-friendly underfloor heating using air-source heat pumps and solar panels which will help to reduce energy bills.

The company was established in 2021 by stone mason and builder Terry Sparke and property developer and chartered surveyor Trevor Newman who have a combined experience of over 70 years.

Construction work is well underway at Meadow View using locally based tradesmen. Plans to occupy the first two properties are expected in July. The investment was led by Tony Cullen, senior investment executive at FW Capital.

Terry Sparke, Stonedale Developments commented: “This is an exciting time for everyone involved with Meadow View. Bringing new jobs and opportunities to the Allendale area is something we’ve wanted to do for a long time. Without the investment from the North East Property Fund, we wouldn’t have been able to complete this development.

“The rural housing market is continuing to be buoyant, and demand has been high for these properties. We have other developments in the pipeline and are looking forward to the completion of the homes at Meadow View.”

Trevor Newman, Stonedale Developments added: “The development has proven to be very popular and we’re delighted that offers have been placed on all six homes.

“Using the local workforce to complete the houses has also been very important to us, creating jobs and helping the local economy. We’re thrilled with how everything has progressed and the support from Tony Cullen at FW Capital has been instrumental.”

By Matthew Neville – Senior Correspondent, Bdaily

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