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Elevate Property Group secures a further £18.6 million Paragon finance package for Nottingham riverside development

Elevate Trent master.jpg

  • Paragon has financed second phase of the development, which will result in 95 homes on the banks of the River Trent
  • First phase of Trent Bridge Quays waterside development complete and residents starting to move in 
  • Second Elevate Property Group supported by Paragon in recent months, bringing total committed funding to £31.3 million

Elevate Property Group has secured an £18.6 million funding package from Paragon Development Finance to support the second phase of its luxury Trent Bridge Quays waterside development in Nottingham.

The second phase of construction has commenced and will result in a total of 95 townhouses and apartments on the banks of the River Trent when complete in Q4 2021. Phase I of the scheme is now complete and residents have started to move into their new homes.

Trent Bridge Quays is the second Elevate Property Group development Paragon has supported in recent months following the £13.3m funding for the Priory House scheme in Birmingham.

In addition, Paragon is keen to support further phases of the Trent Bridge Quays development. The Gross Development Value of both schemes is well in excess of £50 million.

Steve Dodd, managing director of Elevate Property Group: “We’re excited to bring the next phase of this landmark development to Trent Bridge Quays in Nottingham. The area will be transformed as a lifestyle destination in the coming years as the city have adopted a master plan to redevelop the entire riverbank from Trent Bridge all the way to the racecourse”.

He added: “Paragon offered very competitive terms and total flexibility, we are delighted to have secured a second line of funding from such a well-regarded lender in just 2 months and look forward to forging a strong relationship to help pave the way for more development in the future”.

Toby Burgess, Paragon Bank Development Finance Relationship Director: “Our continued support of Elevate Property Group highlights Paragon’s ambition in supporting experienced, high quality developers. Trent Bridge Quays is a fantastic development which is regenerating the area, creating high-specification homes with spectacular views over the Trent and across the city. We look forward to working closely with Steve and his team as they deliver the subsequent phases of this exciting development”

Prices start at £192,500 for a one-bedroom luxury apartment and from £345,000 for a townhouse with three double bedrooms and garden, or a two bedroom waterside apartment with balcony and river views. An impressive new marketing suite is now available to visit by appointment, as is the brand new three bedroomed town house show home and one bed show apartment, already completed.

A new micro-site at http://www.trent-bridge-quays.co.uk has been created to give a real insight into what buyers can expect and estate agents Savills have been brought in, alongside local agents FHP, to spread the word regionally and nationally on what Trent Bridge Quays has to offer.

ENDS

For further information contact:
Michael Clarke
Head of Media Relations
Tel: 07740090746