Executive eco home project in County Durham gains backing from North East Property Fund

A new-build executive eco home development in County Durham has secured a six-figure investment from the North East Property Fund, giving momentum to an ambitious, sustainable housing project in the region. 

Local developer, Eden Homes has used the funding to build Ascot House, a spacious open-plan living EPC A rated home. It is a six-bedroom detached development located in Dunelm Stables in Thornley which combines premium finishes with environmentally friendly technology including an energy-efficient timber frame design, solar panels, air source heat pump systems and underfloor heating. These steps significantly reduce the carbon footprint and long-term energy costs for homeowners, while delivering luxury standard living.

Kevin Davidson from Eden Homes has received funding to support the development of Ascot House using a loan provided by FW Capital under North East Property Fund which is managed by FW Capital and backed by The North East Mayoral Strategic Authority (North East MSA). 

Kevin Davidson, Eden Homes said: “We’re proud to be delivering a home that doesn’t compromise on style or sustainability. Located in a sought-after location in Durham, Ascot House is constructed to the highest standard and boasts impressive eco-friendly credentials. The inclusion of solar panels significantly reduces energy costs and environmental impact, contributing to a more sustainable lifestyle. The underfloor heating system further enhances energy efficiency.  The investment from FW Capital has been instrumental and came at a time when our bank was not supporting small property developments. The support from the FW Capital team has been excellent.”

Adam Jones, Assistant Investment Executive at FW Capital said: “Kevin has a proven track record of bringing executive homes to market in the Durham area. His latest development reflects the growing demand across the North East for high quality homes with sustainability at its core. This home is a great example of what the Fund has been created to support.”

The North East Property Fund offers short-term loans for small and medium-sized construction and property development companies.  Loans from £250,000 up to £2 million are available for residential and non-speculative commercial developments in Tyne & Wear, Northumberland, and County Durham.

The £20 million fund is backed by the North East Mayoral Strategic Authority (North East MSA). The Fund was launched to address a gap in the market and facilitate the delivery of new residential and non-speculative property development projects in the North East area.