A Northumberland property firm is looking to build on the firm foundations it has laid during the pandemic with the help of a five-figure investment from the North East Small Loan Fund Supported by The European Regional Development Fund.
EW Estates provides lettings and property management expertise for both residential and commercial properties, as well as a range of surveying services, and works with clients right across the North East.
The Ashington-headquartered firm was set up 18 months ago by managing director Emma Walker, who had originally only planned to have brought in one extra employee by this point, but who has already built a 14-strong team on the back of strong activity levels in the buoyant North East property market.
After working with regional fund management firm NEL Fund Managers to secure the £24,000 Small Loan Fund investment, EW Estates is now planning to create another five new jobs before the end of the year to ensure it can continue to manage current client demand and take advantage of future opportunities.
EW Estates’ team of surveyors, who are all qualified members of the Royal Institute of Chartered Surveyors, works with clients from Berwick down to Middlesbrough, undertaking and residential surveys and valuations, rent reviews, lease renewals, and commercial sales and lettings.
Emma Walker says: “The North East property market has remained robust right ever since I set up the business and we’ve been able to capitalise on the high level of demand for the services we provide right across the region.
“Our business success has been built on the personal relationships that we develop with our clients and on the additional insight into their individual requirements that our expert team provides based on the work they carry out.
“I hadn’t expected the business to grow anywhere near as quickly as it has, but the combination of the quality of our work and the strength of the regional property market has enabled us to get ahead of the growth curve and it makes sense to now look to do even more.
“Bringing more people onto the team will mean we can keep up with demand, complete work even more quickly and be fully resourced to take advantage of future opportunities that arise.
“The support we got from the NEL team in fine-tuning our business plan was extremely useful, and helped to make bringing the investment into the business a smooth and stress-free process.”
Abigail Cook, investment associate at NEL Fund Managers, adds: “Emma and her team have made very impressive progress over the last 18 months and are now well-set to achieve even more.”
Part of the £120m North East Fund and aimed predominantly at smaller SMEs, the £9m North East Small Loan Fund typically offers loans of between £10,000 and £100,000 to businesses in Tyne & Wear, Durham and Northumberland.
It is designed to assist with the creation of over 1,200 new regional jobs in more than 320 SMEs over the life of the fund.
The overarching £120m North East Fund will provide financial support for more than 600 businesses, creating around 3,500 jobs and delivering a legacy of up to £80m for further investment into the region.
For more information on NEL’s investment criteria, visit www.nel.co.uk or contact the investment team on 0345 369 7007.