Entrepreneur looks to expand property business in South Tyneside

Dane Nicholson, director and founder of Zebra Leisure Lease, has various other businesses spanning motorhome hire through to window film and tint installation, but has utilised the facility provided by Reward Financial Group to expand his 33-strong residential and commercial property portfolio, primarily across South Tyneside.

The company specialises in purchasing homes via auctions to then refurbish them to a bespoke standard for letting purposes and housing scheme requirements across the region.

Due to the “fast-paced nature” of property auction deals and the need to complete purchases within 28 days, the business needed an “agile and responsive” finance solution that could meet these cash flow pressures and overcome barriers to growth.

Reward provides SMEs with tailored business finance loans and asset based solutions between £50k and £5m and worked closely with Zebra Leisure Lease to identify both its operational business challenges and opportunities to expand.

The company, like many other SMEs has found it challenging during the current economic climate to secure short-term commercial finance within a tight timeframe via traditional high street banks and other lenders.

Now boosted by the cash injection from Reward, the business aims to expand its property portfolio by 48 per cent and double revenue in the next 12 months and develop assisted living accommodation, to meet the shortage of housing schemes and provide suitable properties for vulnerable adults across South Tyneside.

Dane said: “There is currently a massive shortage of housing across the region but more so for vulnerable adults needing emergency accommodation across South Tyneside, sometimes hotels and HMO properties are just not suitable due to there being large numbers or residents.

"Zebra Living currently house over 33 families across South Tyneside in standard living accommodation, but with the new funding investment we are hoping to double in the next 18 months as we head into this new venture.

"We are looking to install the likes of CCTV, panic call buttons, reinforced doors, safety filmed windows easy access, Zebra Living will be working closely with Armstrong lettings to roll out the project across south Tyneside.”

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