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CPD secures £4.9m Paragon finance package for Portishead ‘ARC’ scheme

CPD Portishead hero.jpg

Complete Project Development (CPD) has secured a £4.9 million finance package from Paragon Development Finance to support its new build apartment scheme in Portishead.

Perfectly positioned on the fringes of Portishead Marina at Harbour Road, ‘ARC’ is home to 26 new apartments. With one, two and three bedroom homes available, including a penthouse with panoramic views, all apartments are finished to a high specification.

CPD has built a strong reputation for development projects in the South West, primarily Bristol. Previous schemes include the conversion of 25 Portland Square in the city and Orchard House, the conversion of a 1960s apartment block into 54 units.

The funding was led on behalf of Paragon by Relationship Director Adrian Reeves, with support from Portfolio Manager Bonnie McClosky.

Jonathan Turner, CPD Director, said: “The ARC benefits from a fantastic location on the fringes of Portishead Marina, ideally located for the marina itself but also the shops, bars and leisure facilities that this burgeoning area has to offer. It is also in easy commuter distance to Bristol and is on the doorstep of the M5.”

Jonathan added: “Paragon saw the potential of the scheme immediately and was the perfect finance partner to work with. The process was smooth and enabled us to progress with the scheme with confidence.”

Adrian Reeves, Paragon Development Finance Relationship Director, added: “CPD is a growing development company that focuses on high quality. It has a fantastic track record in producing stylish homes that people want to live in and we’re confident the ARC will be just the same.”

For further information contact:

Michael Clarke
Head of Media Relations
Tel: 07740090746

www.paragonbank.co.uk 

Notes to editors:

Paragon 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 £13 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.