Property investor Develop North marks £70m lending milestone

Property investment fund Develop North Plc has marked a lending milestone of more than £70m in a year which saw a £1.1m distribution to shareholders.
The Newcastle-listed fund, which is managed by Tyneside wealth managers Tier One Capital, has published annual results for the year ending November 30, 2023, in which it reported that, since 2017, it has now loaned £71m to help fund commercial and residential property schemes across the North and Scotland.
It said that since it was established, Develop North’s operations have helped created almost 3,000 jobs and supported 33 developments with a gross development value of over £180m. The fund delivere …