Developer going it alone with £2.5m Co Down homes project
A builder has announced a £2.5m housing project for his new firm and the creation of 35 jobs after breaking away from the family business.
Jamesy Hagan, from Ballyclare in Co Antrim, has set up Seventh Developments after 14 years with Hagan Homes, the company co-founded by his father James.
The business has started work on 21 new homes at Fort Manor in Dromore. Prices begin at around £95,000.
Rowallane Construction in Co Down is the main contractor for the 1.3 acre site at Pound Hill in the town.
Mr Hagan, the managing director, said: "This is Seventh Development's first project and the team involved in bringing it to life are extremely experienced.
"As a fresh new company, we have a modern approach to building and we believe that strong partnerships are the way forward as it means homeowners can benefit from a wealth of expertise.
"The development of 21 new homes at Fort Manor will have a mix of apartments, townhouses, semi-detached and detached properties to cater for the needs of both individuals and families.
"Our homes are well designed with excellent workmanship and are affordably priced."
Phase one of the scheme goes on sale in January, with prices starting from around £94,950. The first completions are planned for May. The project is being financed by Close Brothers Property Finance.
Senior manager Gary Ferris said: "We are pleased to be supporting Jamesy and Seventh Developments in this new venture, which is happening at a time when the economy is in a sustained period of recovery and when demand for family homes is increasing. Our involvement with Seventh Developments demonstrates our ongoing commitment to the region and the house building sector, where the focus is on delivering high quality housing.
"We look forward to seeing the finished product and continuing to grow our relationship with Jamesy and his team."
John James Toner, company secretary at Hagan Homes, is also listed as company secretary at Seventh Developments. Jamesy Hagan joined Hagan Homes as a site foreman in 2004 and became managing director five years later.
In its latest accounts, the company reported turnover of £18.7m, up from £16.7m the year before. Over the last 29 years, it has built almost 3,300 homes including developments such as Henryville in Ballyclare and Old Church Square in Dundonald. In August it was announced that the firm will be building 76 red-brick semi-detached homes in the Village area of south Belfast following the demolition of poor-quality terraced properties.