Northumberland developer secures £1.1m for Hexham residential site

A Northumberland developer has announced that it has received a £1.1m loan for the creation of a new residential site.

Birchdove Homes has secured the loan from OakNorth Bankto create residential development located in Hexham.

The development comprises six four-bedroom and two five-bedroom homes, ranging from 1,485 sq. ft to 1,915 sq. ft.

David Charlton, director at Birchdove Homes, commented: “In light of Covid-19 and flexible work, we’ve seen increased demand for more rural homes that provide families with additional indoor and outdoor space and amenities, while still being close to the city.

“The fact that six of the eight properties have either been sold or reserved is a clear demonstration that this is a highly sought after area.”

Gareth Bennett, associate director of debt finance at OakNorth Bank, said: “With three of the eight homes already sold and another three reserved, it’s evident that Birchdove has found a recipe for success.

“It’s been a pleasure working with the team who have over 12 years of residential development experience in Northumberland.

“I look forward to further building on this relationship and assisting the team with future developments.”

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