North East Developer Secures Six-Figure Investment to Deliver New Housing Project in Thornaby

BA Properties, a prominent North East property developer has secured a significant six-figure loan to complete a new build residential project in Thornaby. 

The funding has been delivered via the Teesside Flexible Investment Fund which is managed by FW Capital with investment from the Teesside Pension Fund. It is providing BA Properties, which is part of Billingham based BA Group, with 100% funding to facilitate the final stages of the development. 

The Thornaby project is located on 365 Thornaby Road and will bring eight high-quality, semi-detached two-bedroom bungalows to the local market. It is well located for the local primary school and offers good links to the town centre and the A66. Each home features dedicated car parking, private gardens, and is situated on a private road, addressing the growing regional demand for accessible, modern single-story living. The build is being managed inside the Group utilising their significant construction experience.

Dan Hooker, Director BA Properties said: "As our first new-build residential project, having 100% of the capital secured allows us to focus entirely on delivery. We’re bringing high-quality accommodation  to a local market that is struggling for these types of properties. Working with the team at FW Capital has been great. Both BA Properties and our parent firm BA Group have had an enjoyable journey with FW Capital for this development, and we look forward to a long-term working relationship.”

Lesley Telford, Senior Investment Executive at FW Capital added: "The Teesside Flexible Investment Fund was created to back ambitious Teesside businesses that have a clear vision for growth. This development in Thornaby is a perfect example of that. By providing the necessary financial bridge, we are helping to bring more choice to the local residential market and ensure that the North East remains a vibrant place to live and invest. We are looking forward to seeing these eight new homes move toward completion.”

Councillor John Kabuye, Chair of the Teesside Pension Fund Committee, said: “This is just the latest in a series of investments that are providing timely support to local businesses and giving a real boost to the local economy. The Flexible Investment Fund is all about delivering real and lasting results, and this development by BA Properties will be a first-class addition to the local housing market.”

Designed by FW Capital with investment from the Teesside Pension Fund, the Teesside Flexible Investment Fund provides a mix of property development funding, contract-related bond finance and finance to support management teams in buying a business, covering Hartlepool, Middlesbrough, Redcar and Cleveland and Stockton-on-Tees. This provision of loan and equity packages to support management buyouts and the transfer of ownership is a first for FW Capital.