Paragon Development Finance has supplied a total gross facility of £25.5m for Watford Riverwell to back the acquisition of 60 acres of land.
The land will be used to develop 85 new homes as part of the Waterford Riverwell scheme, which is a regeneration project in Watford.
Phase one of the scheme will consist of 62 private houses and 23 affordable homes. The development will have a gross development value in excess of £35m.
Overall, the project will take between 15 and 20 years to complete with around 1,000 new homes expected. This will also include a retirement village, primary school, and retail, commercial and industrial space.
Paragon Development Finance’s relationship director Simon Dekker said: “We’re pleased to be working with Kier Property and Watford Borough Council to be part of such an impressive development that will result in a significant amount of new homes and help transform an area in a sustainable manner and with a long-term view.”
Kier Property’s managing director of regeneration Andrew Storey said: “This is an ambitious and impressive development that will regenerate the area from predominantly brownfield land, bringing new homes and facilities and broader economic benefits.
“Paragon has been a key partner, understanding our requirements completely and showing the expertise needed to progress the funding efficiently and within a tight timeframe.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.