As North East property market specialists, we are always interested in property developments in locations like Durham. There is significant demand for property in this part of the country, and this goes for buyers and tenants.
We know the North East market is an appealing one to property investors, and work on a £13 Durham residential scheme is likely to interest landlords and property investors. Work is underway from Placefirst, a build-to-rent provider, and they look to bring 89 homes to the market for long-term rent.
The plan is for this development, located in Esh Winning and named The Oaks will bring 54 bungalows and 35 three-bedroom homes to the area.
It is also hoped that the development will benefit the local village, and will create a boost for local services and amenities.
Improved facilities support the whole community
Not only is there great demand for homes in this part of the country, there needs to be more shops and facilities for locals. This development is likely to lead to other work, and if it creates better transport options or shopping facilities, its impact will reach much further than property investors or tenants at this development.
James Litherland is the planning and development manager at Placefirst, and he spoke about the project saying: “We are proud to commence work at Esh Winning, a project that will bring new life to the site and deliver 89 high quality homes for rent to the North East. The team have worked hard to bring this development together and we’d like to thank them as well as Durham County Council who have shown great enthusiasm throughout.”
Cllr James Rowlandson, Durham County Council’s cabinet member for resources, investment and assets, said to Insider Media Limited: “We are pleased to see work getting underway on this development and look forward to its completion. Having access to good quality housing is vital to the wellbeing of our residents. With a mixture of bungalows and houses for single families and new homes for rent, this scheme will help to meet local needs.”
Cllr Jean Chaplow added: “I have been campaigning for the delivery of bungalows on this site for a long time so I am delighted to see work start. On behalf of the ward councillors, I’d like to thank Placefirst for their commitment to this project. We are pleased they will be maintaining the existing oak trees as part of the landscaping, and I look forward to seeing the neighbourhood complete in 2024.”
If you want to stay in touch with property developments and investment opportunities across the North East of England, we are here for you. This sort of development is exactly what many people are calling for, and there will hopefully be many other projects of this nature in this part of the country.
Contact Urban BASE for all your property market needs
If you would like to arrange an appointment to discuss your next move in the property market, we are always happy to help. Call us on 0845 6431186 today.