North East property developer bags six-figure funding from Lloyds Bank

A Hartlepool property developer has broken ground on its first residential project with the help of a six-figure funding package from Lloyds Banking Group.

North Heights Ltd, a new collaboration between directors Stuart Jewson and Mark Flint and contractors Ben and Stephen Brownless, has kicked off trading with a four-unit residential build in Northallerton.

The project will transform a local pub’s - The Golden Lion - unused car park into a set of three-bedroom semi-detached houses with bespoke features.

Stuart Jewson, director of North Heights Ltd, said: “Our debut project has been an exciting journey. We’re a small but agile team with the ability to go above and beyond for our customers.

“With offers accepted on three of the properties, we’ve been able to build the future occupants’ personal requests into our designs.

“With more than three decades of industry experience between us, we know the development process inside out. However, we wouldn’t have been able to put our expertise to use without Lloyds Bank at our side.”

North Heights Ltd expects to generate a six-figure return from the development. It has already accepted offers on three of the four units.

Following completion of this project, the new company plans to reinvest the profits in a larger development of between 10 and 20 properties.

To date, 25 local contractors have been involved in the construction of the new homes, which have a combined floor space of approximately 400 sq m.

John McLoughlin, relationship manager at Lloyds Bank Commercial Banking, added: “It has been really rewarding to watch North Heights’ first development come to life.

“We’re committed to helping Britain prosper and projects like this have a positive impact on a local economy and community. We know they often prompt others to invest in the surrounding area and provide a rich seam of work for a developer’s supply chain.”

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