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Luxury £4.6m homes scheme to be built by the canal in Lea

Posted on - 20th December, 2019 - 7:00am | Author - | Posted in - Housing, Lea, Preston News, Redevelopment
Edgewater Oaks

A £4.6m luxury homes scheme has been launched by the canal in Lea.

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Edgewater Oaks is a gated community of five-bedroom, fully furnished properties by developer 10Acia, on Lea Road.

The developer plans to create bespoke homes offering contemporary living in a rural setting.

10Acia founder and director David Price said: “We’re incredibly passionate about creating homes with unrivalled design and a space which people can flourish in.

“Whatever we do, we make sure it’s categorically the best in the area, and it’s our attention to detail that sets us apart from other developers.

“We’ve already had incredible interest and sales off plan, from private buyers and even unsolicited investors from London and Singapore.”

Edgewater Oaks

10ACIA was formed in 2013 when Mr Price, invested just £6,000 in renovating a terraced house in Preston. The multi award-winning developer, who was recently named ‘Entrepreneur of the Year’, has since consecutively doubled the size of each project completed.

Mr Price said: ““Eventually, we’d like to be in a position to develop up to five sites a year and diversify our developments to include properties in a range of sizes, offering incredible design and value to ensure they’re the best of their kind.”

Read more: Affordable homes plan for Woodplumpton

Edgewater Oaks was funded with the support of a private investment consortium and a £1.6 million development facility from Lloyds Bank. The funding forms part of the bank’s commitment to lend £1.3 billion to firms in the North West during 2019.

Dale Parkinson, relationship manager at Lloyds Bank Commercial Banking, said: “We’re proud to provide the tailored funding that firms like 10ACIA need as part of our commitment to help Britain prosper.

“With economic centres like Liverpool, Manchester and Preston on the rise, North West house prices are set to increase by a quarter in the next five years, making it an attractive proposition for developers.

“It’s key though that new housing is delivered with quality across the scale so it’s pleasing to see David and his team continue to embody that approach with this latest project.”

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