£500,000 investment to help land promoter plug the housing gap
A Leeds-based specialist land promoter has received a six-figure funding boost which is helping the firm create new jobs and enjoy growth.
Richard Roberts has secured a £500,000 investment from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).
Debt Finance advice to Richard Roberts was provided by Azets Corporate Finance Yorkshire’s David Streather who made the introduction to FW Capital.
The funding has helped create five new roles and provide working capital to support Richard Roberts’ new project wins which will help drive the growth of further land developments across the North.
Richard Roberts provides a full-service solution which helps customers gain planning permission to sell their property, maximising its value for the seller and facilitating land for further residential development to the market.
Ian Preston, managing director, said: “Having access to working capital is essential in our industry because of the capital intensive nature of our work.
“The investment has been key in helping us grow our team from one to six to meet the increased demand for our services.
“We have a high rate of success in seeking planning permission for landowners and in circumstances where there are seen to be potential constraints.
“This funding will help us support more clients across the region and beyond with securing successful land development opportunities. Alex Gent at FW Capital has been very helpful.”
Gent, senior investment executive, facilitated the investment for Richard Roberts. He said: “The skill and experience within Richard Roberts came across clearly throughout the investment process and made working with Ian and the team an interesting and enjoyable experience.
“This funding will support additional residential developments across the country to plug the ongoing housing gap, bringing well designed plans to the market.”
FW Capital can provide loans in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, and the Tees Valley.