Plans for new homes following seven-figure investment deal
A seven-figure investment is set to see the creation of new homes.
Housebuilder Wynyard Homes is set to accelerate its development plans after Tynemouth Developments – the residential arm of Northumberland Estates – and Homes England, the Government-backed agency charged with facilitating regional housebuilding, made a substantial investment in the company.
Wynyard Homes is currently building on two sites – the Coniscliffe Rise in West Park on the outskirts of Hartlepool and Liberty Park, also in the town.
The new investment will see the development of a site in Dalton Piercy just off the A19 for 30 bungalows, a mixed 33-home development in East Rainton near Sunderland and 35 homes, including 10 units alongside four and five bed detached houses and bungalows at Middleton Tyas near Richmond, North Yorkshire.
Wynyard Homes was formed in late 2016 after Barry Miller, a leading figure in the property sector for more than 25 years, bought out and rebranded Seneca Homes.
Mr Miller, the former managing director of Bellway North East, said: “This investment from two key players shows great confidence in our mission to differentiate ourselves from the big housebuilders by providing quality homes that stand out from the crowd, unique to the area they are located in.
“It is incredible to think how far Wynyard Homes has come in such a short space of time and our concept of bespoke developments in the best locations for commuting to work in the region’s great cities and towns is something which our new investors can see is proving very attractive to buyers.”
Of the 84 plots at Liberty, 46 are already occupied with high interest in the remaining homes while Coniscliffe Rise is the showcase for the Wynyard brand’s ethos of providing executive homes, ranging in price from £460,000 to £580,000.
“We are very proud of Coniscliffe Rise and the feedback from those who have moved in has been overwhelmingly positive.
"Our standard specifications are at the top end in terms of quality,” said Mr Miller.
“The development is on the edge of Hartlepool with fantastic access to the A19 which will get even better when the Elwick bypass is built, while there is a good rail link to London and the North from Hartlepool Station.”
Steven Whyte, Senior Specialist for SMEs at Homes England said: “Supporting the growth of small and medium sized builders and developers is one of the key ways Homes England is responding to long term housing challenges.
"Our Home Building Fund enables us to provide finance for housebuilders like Wynyard and we’re pleased to be helping them create a new community in Hartlepool.”