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Paragon continues its support of UK residential projects, providing a near £4.5m funding package for South-Leicestershire development

Paragon Bank is continuing its support of residential development projects across the UK, providing a near £4.5m funding package to support Bowbridge Homes with the completion of Bosworth Grange, in the South-Leicestershire village of Husbands Bosworth.

The Bosworth Grange scheme will provide thirty properties in total, with a mixture of three and four bed homes, all completed to a high specification. Paragon provided the senior debt development loan facility to enable the scheme to be built out.

Oliver Purday, Managing Director at Bowbridge Homes, said: “This loan continues our relationship from previous schemes with Paragon. We like that they are pragmatic during the development and accept that there will need to be amendments to the programme or plans depending on individual issues that arise. They work with us to manage these issues correctly.”

Anil Sehmi, Relationship Director in Paragon’s Development Finance team, said: “It’s great to support Bowbridge on another scheme, providing more much-needed housing to the market. In the unprecedented time we find ourselves in, we are working hard to continue supporting both existing and new clients.”

This is the second deal that Paragon have supported Bowbridge Homes with over the past two years.

The homes of Bosworth Grange are planned for completion towards the end of 2020/beginning of 2021. Each has been carefully designed to suit the characterful setting of Husbands Bosworth and, being centred around their own village green, will become a community within its own right.

Paragon Banking Group PLC.  Registered in England number 2336032.  Registered office 51 Homer Road, Solihull, West Midlands  B91 3QJ.