£4.6m gated housing development opens

A new £4.6m luxury gated community in Lea, near Preston, has launched. The Edgewater Oaks development features a number of fully furnished five-bedroom properties and overlooks Lancaster Canal.

It was brought together by property developer 10ACIA and backed by a private investment consortium and a £1.6m development facility from Lloyds Bank.

10ACIA was formed in 2013 when founder David Price invested just £6,000 in renovating a terraced house in Preston. He has since doubled the size of each project he has completed.

Now the company, which operates across the North West, has set its sights on another local development with capacity for upwards of 52 new homes, marking a significant step up for the business.

David said: “We’ve already had incredible interest and sales off plan, from private buyers and even unsolicited investors from London and Singapore. Having the team at Lloyds Bank by our side throughout, has made the journey seamless, and the support has been second to none. The initial success of the project has given us the confidence to continue to grow and develop additional homes for residents across the North West.

The initial success of the project has given us the confidence to continue to grow.

“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.”

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