North East housebuilder and property developer, Homes by Carlton, has re-entered the housing market with new developments and a regional expansion programme.
The County Durham developer has begun to roll-out its multi-million-pound plans to start work on at least three housing developments in Durham and Tees Valley during 2019, bringing around 300 new homes.
Homes by Carlton focuses on luxury family homes. It has produced over £30m of residential and commercial projects across the North East and Yorkshire since its inception in 2000. The latest development is Cathedral Gates, Chilton, eight miles from Durham City. It will comprise 14 plots with a mix of 3 and 4-bed homes.
Craig Peterson, co-founder of GCV and Homes by Carlton, said: “We’re delighted to be bringing the Carlton brand back to the North East. The region and the country are crying out for good quality homes but regional housebuilders, who know their local markets, have been starved of the cash to fund developments.
“With our innovative co-investment model, we can close that funding gap, provide much needed, high-quality homes and give investors the chance to share in the development profits.”
In partnership with North East fintech firm Growth Capital Ventures (GCV), a total of £1.4m of investment was raised to develop this scheme. FCA authorised Growth Capital Ventures structured the fundraising for the development using a co-investment model. Around £1m of development finance was attracted from FW Capital and £200,000 equity finance from Fusion21, a regional corporate investor; this was matched with £200,000 from private, individual investors through GCV’s online investment platform, GrowthFunders.