We are delighted to update you that Northumberland Living Developments have raised sufficient funds for the refurbishment of the Ravensmount Care Home, Alwnick

The Northumberland Living team had hoped to be on-site in late Summer/Autumn 2023, however, due to various delays and issues with regard to the legals and solicitors, this has taken longer than anticipated, with completion now imminent.

Some of the main obstacles were around an overage for the Duke of Northumberland, and the previous owner not obtaining the correct planning and building regulation approval. However, we are happy to say this has now been resolved, with Northumberland Living's new lawyer currently reviewing the contracts in the hope they can conclude next week.

The team have not, however, been waiting patiently during this extended period, and this has allowed them some time with the project architects and planning consultants to value engineer the project and improve the overall design and layouts.

They have added a roof terrace and some fabulous features for the penthouses, which we are excited to share with you in due course! William Jackson (Director) has also planned a workshop on-site to manufacture their own windows, soffits and fascias thanks to the team of expert joiners, this will cut down the usual order times of 12-16 weeks and gain back some time on the project.

Northumberland Living has many ideas and plans to ensure they keep to the construction schedule and will get moving at pace as soon as the motivated team has the go-ahead to start work on site.

The Company is also in advanced discussions around the eventual sale of the Northumberland Luxury Stays portfolio, which will include Alwnick, with a hospitality company, which would be a three-year deal but with contracts and the future purchase concluded in the next 12-16 weeks.

We are delighted for both the Company and investors that they will have the exit strategy defined so early in the project.

See the development site video below.