Disused Victorian building set to become new Seaham homes after £520k investment
A disused Victorian building is set to be transformed into a collection of family homes after a £520k investment.
Clearwater Developments, based in Seaham, has received the funding from FW Capital, which manages the North East Property Fund.
It will be used to build five new homes on the site of the former Castlereagh Road Co-operative building in the Seaham Conservation Area.
Ranj Gill, director of Clearwater Developments, said: “This is a really exciting project for us and we are delighted FW Capital was able to provide the funding to support us.
“This is a building that has been used by the people of Seaham since the Victorian era but has unfortunately become run down and unsightly.
“Our development will create much-needed new homes and sympathetically restore the building to its former glory.”
Tony Cullen, investment executive at FW Capital, said: “This development in the Seaham Conservation Area will breathe new life into a historic building that has been rather neglected in recent years.
“The transformative impact of this investment has created new homes in a popular seaside town, supported the regeneration of Seaham, and boosted the local economy. We are delighted to have been able to help.”
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