Reward Finance Group Fuels Manchester Property Developer’s Expansion into New Build Market

From left to right - Paula Jones of Reward Finance Group and Robert Harrison of Affordable Property Let

Reward Finance Group, a leading provider of tailored business finance solutions to SMEs, has sealed a £50,000 funding agreement to support the growth of a Manchester-based property developer and facilitate its entry into the new build market. Affordable Property Let (APL), the rental development arm of Harrison Construction, has utilized the working capital provided by Reward to establish a property portfolio that will serve as a platform for expansion into new build projects across northern England.

Over a five-year period, Reward has extended approximately £300,000 of funding to APL, enabling the business to secure bridging loans for three house in multiple occupation (HMO) properties. The most recent financing of £50,000 has been utilized to acquire and complete the major refurbishment of an HMO property in Castleton Moor near Rochdale.

Buoyed by its success in the rental market, APL now sets its sights on significant growth in the new build sector. Planning approval has already been obtained for three luxury homes in Hebden Bridge and a commercial property in Oldham. To support this expansion, APL has made new hires, including three staff members and two apprentices from Hopwood Hall College in Rochdale. Further workforce expansion is anticipated when construction commences on the new build projects later this year.

The brainchild of Robert Harrison, a Manchester-based entrepreneur with over 15 years of experience in the building trade, APL is part of his wider business portfolio, which includes Harrison Construction, Robert Homes Property Group, and Hadas Architectural Service. Harrison’s vision has always been to enter the new build space, and the funding from Reward has been instrumental in realizing this goal.

APL’s director, Robert Harrison, expressed his gratitude for the critical role played by Reward Finance Group in APL’s journey. He emphasized the importance of establishing a property portfolio and a proven track record in purchasing, refurbishing, and letting homes to a high standard in order to venture into the new build market. The funding provided by Reward has offered the agility necessary to navigate the market swiftly, leading to the acquisition and refurbishment of a series of successful HMO properties. The latest funding has enabled the purchase of a property near Rochdale, marking a significant milestone for APL.

With its sights set on further growth, APL plans to embark on several new build developments across the north of England. This expansion trajectory is expected to open up exciting opportunities for the company. The ability to react and capitalize on market opportunities is a crucial aspect of APL’s ambitious growth plans, and the financial support from Reward Finance Group has proven transformative in this regard.

Paula Jones, regional operations manager for Reward Finance Group in the North West, praised APL’s progress and success in establishing and maintaining a property letting portfolio. She highlighted the transformative power of the right type of commercial finance for ambitious SMEs, enabling them to seize market opportunities and drive growth. Jones expressed enthusiasm for the next chapter in APL’s journey and looked forward to witnessing the company’s future accomplishments.

The funding deal provided by Reward Finance Group serves as a catalyst for APL’s expansion into the new build market, supporting its vision to quadruple revenues within the next two years. With a strong track record, a growing property portfolio, and ambitious plans for new build developments, APL is poised to make a significant impact on the property development landscape in northern England.

Explore more topics
Place Guild
Related news stories