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Paragon provides Burrington Estates with £28m of funding for prestigious Winslade Park development

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Burrington Estates has secured a £28 million funding package from Paragon Development Finance to support its prestigious Winslade Park development in Exeter.

The company is redeveloping the extensive 86-acre estate and Winslade Manor at Clyst St Mary, which will result in luxury housing, office space and considerable leisure facilities.

Paragon’s support will finance the development of up to 80 residential units across two parcels of land. The development comprises both luxury apartments built opposite the Manor House and a range of high specification houses.

The scheme will benefit from high sustainability standards including PV solar panels, air source heat pumps and electric car charging points throughout the development.

The deal has been structured on the basis of outline planning, with Burrington Estates well progressed towards securing detailed planning permission, ahead of beginning work on site.

Paragon and Burrington Estates have a longstanding relationship, including a range of ongoing projects together across Burrington’s South West and Central divisions. The funding has been led on behalf of Paragon by Senior Relationship Director Oliver Thompson and Senior Portfolio Manager Daniel Cresswell.

Mark Edworthy, Managing Director of Burrington Estates, said: “We really appreciate the continued support from Paragon Bank and look forward to delivering this exemplar project at Winslade Park in partnership with the bank. A particular thank you to Oliver Thompson and Daniel Cresswell for being very flexible with the terms to suit the deal and for fast and efficient transaction execution as always.”

Oliver Thompson added: “We’re delighted to partner with Burrington as they deliver this landmark development in their home city. The team have obtained planning approval for an exceptional proposal to sustainably redevelop Winslade Park, whilst maintaining the character of the Grade 2* listed Manor House and surrounding buildings. I’m excited to see Burrington bring the proposal to life with their typical high-quality finish and design.”

For more information on the project, visit the Winslade Park website.

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 £30 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.