Funding deal gives green light
Newly formed Manchester based property developer Northern Property Consortium (NPC) has embarked on its maiden project after agreeing a key short term finance deal worth £550,000 with leading independent SME funding specialist, One Stop Business Finance.
The deal has enabled NPC, which was launched by highly experienced construction project manager Rick Parker, to deliver on its plan to transform two derelict sites on Alma Street and Sycamore Street in Stalybridge into four high quality new homes.
Their location in Stalybridge at the foothills of The Pennines, which is a popular location for people working in Manchester due to the excellent transport links into the city centre, is expected to be attractive to home buyers and strengthens the town’s increasingly strong residential proposition. Each site will provide two semi-detached 3-bedroom properties which will soon be available to purchase via local agents.
These new Stalybridge developments mark an important milestone for NPC, who secured the land with planning for the transformation already in place in 2018 and 2019. Bringing the project to fruition looks set to be the launchpad for the company’s ambitious growth plans as it seeks further sites across the North West.
NPC founder and director Rick Parker said: “Beginning work on site at our two projects in Stalybridge is a significant step in the development of NPC and we are looking ahead to a busy 2020. Having worked extensively in the construction sector for more than 30 years, it is exciting to be building a property development business with a fresh approach that can apply our knowledge, expertise and professionalism to deliver successful projects with a personal touch.
“Key to our success is our network of support partners, and this is why One Stop Business Finance have been invaluable. Mark Ellis and the OSBF team took time to get to know me and my colleagues and understand what we are looking to achieve with NPC. That enabled them to provide a tailored funding solution that perfectly suits the property development market, with far greater flexibility than mainstream lenders could accommodate.”
Mark Ellis, business development manager in the North West for One Stop Business Finance, added: “We are thrilled to be able to provide the right funding solution to Rick, enabling NPC to grow sustainably and become an excellent new addition to the North West’s booming property sector. The short term funding challenge that NPC was faced with in order for the business to develop is typical of many young companies. However, this can be overcome effectively with the kind of funding flexibility that One Stop Business Finance provides.”
One Stop Business Finance provides secured loans from its own funding and through its network of finance providers for SME clients who are able to offer security for their debts. The company differs from mainstream banks by working to find tailored solutions for an SME’s particular circumstances, taking clients through a process to identify the most suitable and cost effective options and ensuring that responsible lending is at the heart of what they do.