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Burley Road Ltd secures £12.3m Paragon finance for Leeds apartment development

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Paragon Development Finance has provided a £12.3 million finance facility to Burley Road Ltd to assist with development of 110 new apartments on the site of the former Burley Liberal Club in Leeds.

The development will consist of 104 private and six affordable one, two and three-bedroom apartments spread across two five storey buildings located where Burley Road meets Willow Road, just one mile from Leeds city centre.

Building work commenced in February 2021 and is due to complete in August next year. Sales of the apartments have already commenced with North Property Group exchanging on 40 apartments, with a further 26 reserved.

The site covers two-acres and was also home to a former bank building. This was then occupied by Broadley's decorating division but both this building and the liberal club were later demolished after sitting empty for years.

The deal was led on behalf of Paragon by Senior Relationship Director Simon Dekker and Senior Portfolio Manager Craig Seabourne.

Timothy Smith, Director of Burley Road Ltd, said: “This site enjoys an excellent location just minutes away from the city centre and close to Cardigan Fields, which has an array of restaurants and entertainment facilities. The development will regenerate land that has been dormant for many years, breathing new life into the area.”

He added: “Simon and Paragon were very easy to deal with. They are highly experienced and understand the needs of developers, so the process was smooth and structured to meet our requirements.”

Simon Dekker said: “This scheme complements the local area perfectly and the apartments are already proving popular with buyers. We look forward to working with Timothy and his team as the construction progresses.”

For further information contact:

Michael Clarke
Head of Media Relations
Tel: 07740090746

Notes to editors:

Paragon Bank provides competitive property development finance up to the value of £35 million across England and Wales. Paragon Bank Development Finance Limited is a member of the Paragon Banking Group which is a FTSE 250 group based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group has over £12 billion of assets under management and manages over 450,000 customer accounts. Paragon Development Finance Limited. Registered in England number 03901943. Registered office 51 Homer Road, Solihull, West Midlands, B91 3QJ.