Newcastle-based investment fund, TOC Property Backed Lending Trust, is highlighting its role in the levelling up of the North of the UK under its new name, Develop North.

Since its launch in 2017, the London Stock Exchange-listed fund has supported the development of 31 residential and commercial projects, across the North East of England and Scotland with a combined value of £66m.

As Develop North, the fund aims to attract investors and property developers of all sizes, looking to contribute to the economic regeneration of the North.

Managed by Newcastle-upon-Tyne-based wealth and fund management specialist Tier One, Develop North has 19 schemes benefiting from Develop North loans, ranging from small scale, high value executive homes to larger developments of more than 140 properties.

John Newlands, Chairman of Develop North PLC, said: “The fund’s new name gives a clear signal of its Northern UK credentials and aspirations.

“Since its launch in 2017, the fund has allowed regional developers the opportunity to bring forward schemes which have added to the broader availability of housing and commercial premises.

He added, “Such projects contribute to unlocking the potential of the North. We look forward to working with more developers, creating a shared commitment to enhance communities and economies across the North.”