Finance company has new chief

Nov 16 2007 by Iain Laing, The Journal

A HOUSEBUILDING finance company has appointed a new boss for the North-East.

Wolsey Securities, an independent finance specialist for housebuilders, has appointed Terry Davies as a new managing director to head up its North-East development team. He has been promoted to the position and will be responsible for an area east of the Pennines from the Humber estuary to the Scottish border.

Mr Davies joined Wolsey Securities in 2006 as a development director, and has built up relationships with a wide range of developers across Yorkshire, Durham and Northumberland.

Prior to this he spent 20 years working in the housebuilding industry, including 14 years as a managing director for North Homes and Henry Boot Homes.

He said: “Wolsey Securities has a £110m fund to draw on and I am looking to direct as much of this as possible into supporting housebuilders in the region.

“There are increasing opportunities in the North-East for niche developers, building non-standard homes, as they can compete where the bigger players may fear to tread.

“While they might have the ambition and the expertise, it’s often sourcing appropriate funding that is the key to unlocking opportunities.

“That’s where Wolsey has a role to play and I am delighted to be leading the North East team.”

Wolsey, is currently financing a portfolio of 130 developments accounting for 2,300 units across England, Scotland and Wales.