Paragon provides £2m to first-time buyer development

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  • 22/09/2020
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Paragon provides £2m to first-time buyer development
Paragon Bank has provided £2m to developer London Property Ventures to support an Epsom-based housing development targeted at first-time buyers.

 

The funding enabled the purchase of the site through a land loan and will subsequently fund the development of Aviary Court, a conversion and extension scheme of existing units into 10 residential homes.  

These units will be privately gated with nearby off-street parking 

The site currently comprises of two vacant office buildings that will be extended and converted.  

It is the second London Property Ventures’ scheme that Paragon has supported and is due to be completed mid-2021. 

Matthew Jordan, CEO of investment at London Property Ventures, said: “There is a growing demand for property in areas that offer green spaces and access to the countryside and Epsom is a great location that offers these benefits, while still being close to London.  

We’re confident these homes will be popular with first-time buyers. 

Andrew Fairley, senior relationship director at Paragon, added: “It is great to be able to support with funding for this scheme as it aims to bring more much needed housing for first-time buyers in an area within easy reach to London. 

“Over the past few months, it has been our priority to support both new-to-bank and existing clients, so we are pleased that we have been able to continue our relationship with London Property Ventures through assisting with the development of Aviary Court.”

 

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