"These upmarket townhouses will play an important role in transforming Whitley Bay as part of the council’s wider regeneration scheme. FW Capital were helpful and accommodating and were able to provide the funding we needed to complete this development to the highest standard.”
In the first scheme that the North East Property Fund has supported in North Tyneside, Andco Homes secured funding of £750,000 to build three four-bedroom townhouses on the site of the former Whisky Bends pub, on Whitley Bay Promenade.
North Tyneside Council bought the site in 2014 and the former pub was knocked down in 2018 as part of the council’s £36million Seafront Master Plan to regenerate the coastline. Andco Homes then purchased the site from the council and secured planning permission and FW Capital investment to fund the scheme.
The company is led by experienced property developer Graham Anderson, who also owns the successful construction firm Compass Developments Ltd.