A lettings agency in the region is celebrating five years of steady growth, despite the economic downturn.
Easington-based Castledene Group, one of the largest lettings companies in the North East, was established by John Paul to provide property management, property investment and property maintenance services.
It has since expanded to employ 33 members of staff, who manage more than 1,850 properties in six branches including Northumberland, Tyne and Wear, Cleveland and Durham.
Managing director Paul, 35, was inspired to set up the agency after clearing out some paperwork belonging to his late father.
He came across a business plan that his dad had written years earlier about buying and renting out properties, and so decided to make his father’s plan into a reality.
In spite of the tough economic climate over the past five years, Paul has consistently grown the business through a series of acquisitions, including Property Finders North East Ltd, as well as the development, refurbishment and construction of properties within the group’s portfolio.
He said: “We’ve come such a long way since setting up in 2008 and I’m very thankful to have the support of a great team who have been instrumental in our success, and who have tackled the challenging economic climate head-on. We have many more exciting plans for the coming months.”
The group has launched a rent- to-own scheme through its Interlet branch, which enables potential homeowners to purchase a property with a small commitment fee and at a pre-agreed price, and allows the tenant to move into their new home straight away.
The scheme is aimed at those having problems getting on to the housing ladder.