Business & Economy
My Property Box lays growth foundations with £300,000 funding boost
November 24, 2022
An estate and lettings agency has secured £300,000 support to fuel future expansion.
My Property Box is eyeing potential growth across Cumbria and West Yorkshire following backing from the North East Growth Capital Fund.
The cash boost builds on recent takeover deals for Jesmond’s Acorn Properties and South Shields’ KIS Lettings, which have bolstered the Darlington-headquartered business’ presence across Tyneside, Wearside and Northumberland.
The firm, which employs more than 50 people and has around 1600 lettings properties, worked with NEL Fund Managers to secure its £300,000 pot, which is supported by the European Regional Development Fund.
Founder Ben Quaintrell said: “In the short-term, we’re focusing on consolidation, but we’re very much open to making more acquisitions in the future, especially in areas like Leeds, West Yorkshire and Cumbria, where we’re confident our business model would succeed.
“The NEL team was brilliant in explaining how their investment offering worked, and was clearly very interested in our business ideas right through the process – we really can’t thank them enough.”
Jane Siddle, NEL Fund Managers’ senior investment executive, added: “Ben and his team have built a very successful business, and have the expertise, systems and resources to keep progressing, both within and outside the North East.”