Paragon and Southern Grove reveal developments worth £26m providing 106 homes

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  • 07/01/2021
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Paragon and Southern Grove reveal developments worth £26m providing 106 homes
Paragon Bank has provided £8m to developer Horsnall Holdings for a development of 64 homes in Loughborough while Southern Grove has announced an £18m 42-property project in Kent.

 

Paragon’s provided the loan for the first phase of The Gate development in Loughborough (pictured) and has now followed up to fund the second phase of the project.

Mark Horsnalldirector at Horsnall Holdings, said: “The support from Paragon has enabled more much-needed housing to be developed in the Loughborough area.

“We have worked closely with Paragon for a number of years now on projects of varying sizes. The whole team has a great understanding of the industry and has always been keen to assist us with funding.

“Paragon’s continued support has helped us to grow our business significantly over the last few years. Monthly valuations and draw down are simple, hassle free and always paid within a few days of submission.” 

Simon Dekker, relationship director at Paragon, said: “It is great to be able to continue our relationship with Horsnall and support the business with yet another scheme. 

“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 are able to continue our relationship with the business through assisting with this development and those prior.” 

 

Southern Grove opens Kent housing development 

Meanwhile, Southern Grove has revealed an £18m housing development in Kent that will provide 42 homes consisting of semi-detached and detached family homes, as well as 12 apartments.  

The Willows is located off Thanet Way, which is between Whitstable and Herne Bay, and has been designed by On Architecture in Canterbury. 

It is adjacent to another larger housing development, the 300-home Grasmere Gardens, which is part of a wider scheme to provide housing in the area. 

The Willows is the second scheme announced by Southern Grove this year, after the company revealed plans to create a £7m development of mews houses on Powys Lane in Enfield, north London.  

Tom Slingsby, CEO of Southern Grove, said this was the kind of location that would benefit from a rise in demand for larger homes outside of London.  

“Covid-19 has already been credited with fundamentally altering buyers’ working lifestyles and their property priorities. These shifts will have the power to improve local economies across the Home Counties. 

He added: “At the same time, areas like this will need to keep up with demand in order to moderate house price increases but we know local authorities won’t just be focused on the numbers.

“Planning departments are going to be keeping an eagle eye on the quality as well as the numbers of new homes. 

 

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