HUNDREDS of jobs could be created over the next five years after a Hampshire firm secured a multi-million investment.

Bargate Homes looks set to employ a further 200 people from the region after a private equity firm backed it the tune of £25 million.

The funding means the Fair Oak-based company can double the number of construction workers it employs to build its homes.

Daily Echo:

Prowting Investments plc teamed up with Royal Bank of Scotland to inject the cash into the company in exchange for a 30 per cent stake.

Now the firm expects to build more than 1,000 homes at sites dotted across the region over the next five years.

Chairman of the firm, Gerard Price said: “It's fantastic. We can now look to compete against national house builders.

“My team and I have been working for over the last two years to get this.

“It's been a real roller-coaster ride. Like many local house builders we've been in a horrendous situation since the financial crisis of 2009/2010.

“It's been great to have really positive local news for once.”

Daily Echo:

(l-r) Russell Davies, Construction Director, Jeremy Trezise, Finance Director; Gerard Price, Chairman; Mark White, Commercial Director; Angus Cook, Managing Director; Rob Lambie, Sales and Marketing Director.

Bargate Homes builds houses on estates ranging from 15 to 50 in towns and cities across Hampshire.

They are currently building a total of 50 houses at Allbrook outside Eastleigh as well as redeveloping Winchester's old fire station.

In Southampton they are looking to turn the former police station in Hulse Road into a mix of flats and houses.

He added: “Some of our sites are in the planning process at the moment. We would expect over the course of the next five years to be looking at building around 1,000 houses.

“The key to being able to unlock this was in securing the right investment partners. We think there will be further good news as we develop our business.”

Wendy Trott, of Prowting Investments plc, said: “Bargate is a highly respected house builder with an extremely experienced team at the helm.

“We have had a long association with the construction industry and to be working with a business that is so synonymous with quality is a perfect fit for us.”