£1million Investment for Accrington and Darwen
MP backs property developers' bid to revitalise 'unmortgageable' and uninhabitable properties.
For immediate release
Picture shows from left to right: Mark Stewardson, Jake Berry MP and Phil Stewardson
Lancashire towns attract multi-million
pound investment
An award-winning property investor and developer has pledged over £1m to further the growth of Lancashire towns.
Stewardson Developments has identified Darwen and Accrington as having great potential for investment and improvement.
They are now sourcing commercial and residential properties previously deemed ‘unmortgageable’ or uninhabitable, in a bid to attract new tenants to the area.
The business, which is run by brothers Mark and Phil Stewardson, has won awards for regenerating areas of the Midlands where they grew-up, and their latest venture has already secured the support of Rossendale and Darwen MP Jake Berry.
Phil Stewardson, 50, who runs the company with his brother Mark, 47, said: “Our strategy of buying uninhabitable properties and renovating them before renting them out to reliable tenants has proved extremely successful in the Midlands and it’s a model we believe can be successfully adopted here in Darwen and the surrounding towns, where there is clearly a renaissance taking place that we hope to add to.
“Our ultimate aim is to bring back to life some of Lancashire’s commercial buildings and redevelop or repurpose them as mixed-use developments. By doing so, we hope to attract some great tenants which is all part of the regeneration process.”
Stewardsons will be working with established Lancashire sales and letting agent Ainsworth-Lord Estates, who will be managing the local portfolio as well as seeking out potential opportunities in the future.
Mark Stewardson added: “We are delighted to link up with Ainsworth-Lord Estates who share our business ethos and like us are a rapidly expanding family business. Ainsworth-Lord Estates are well-respected and understand investors’ requirements, we are confident they will manage our investments perfectly. Of the dozen agents we looked at, ALE were the standout agency.”
Paul Ainsworth-Lord, from Ainsworth-Lord Estates, said: “We are thrilled Stewardsons have chosen us to represent them in this area and it is a wonderful endorsement for our team, whom we are constantly told are amongst the best in the industry. We have introduced a steady stream of investors to the north west region and we are confident we can grow this further.
“Bringing investors into our area is a win-win for all parties, the money invested brings derelict property back to life, creating quality homes and workspaces for all our families locally.
“It’s also great to see companies like Stewardsons putting their money into our community instead of the constant trail of investment going down to London.”
Work is currently underway at the first of the properties – located on Blackburn Road in Darwen – and both Phil and Mark Stewardson, together with Paul Ainsworth-Lord, met local MP Jake Berry to show him around what will soon become a vintage-inspired tearoom.
Jake Berry, MP for Rossendale and Darwen, said: “I’m delighted that another big company is looking to invest in our town. This is fantastic news for Darwen and I am looking forward to seeing the finished results.”
Stewardson Developments Ltd, based in Cradley Heath, was established in 1996 and owns 122 properties across the West Midlands.
For further information on Stewardson Developments Ltd head to www.stewardson.co.uk
Ends
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Sent by jwc on behalf of Stewardson Developments
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