Commercial Finance
Paragon provides £3.3m for Surrey housing development
Paragon Bank has facilitated a £3.3m funding package to property developer Antler Homes to fund the development of 13 new-build homes in West End, Surrey.
The funding from Paragon’s specialist development finance team has enabled the buildout of the site (pictured), assisted the business with the site acquisition, and supported cash flow to invest in future site purchases.
Construction of the site commenced in July 2020 and will be completed in spring 2021.
Antler Homes’ development of three-bedroom semi-detached and detached new homes is situated within a short drive of Woking centre, which has direct links to London, and is within walking distance of the West End village.
Andrew Rinaldi, managing director of Antler Homes, said: “We were very pleased with the service received from the team at Paragon.
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“We worked with Andrew Fairley and Joshua Mann from the team at Paragon and they were both extremely proactive, facilitating a very smooth funding process.”
Andrew Fairley, relationship director at Paragon, added: “It is great to be able to support with funding for this scheme.
“During the recent difficult times, it’s been our priority to continue supporting the needs of both our current and new-to-bank clients and we hope to continue our relationship with the Antler for future projects.”