Building site

Paragon Bank's first property development completes

Paragon Bank has helped to deliver five residential properties in Catford, south-east London.

The new homes are the product of the Paragon development finance team’s first loan, which was approved over a year ago.

The £1.7m scheme is the result of a 16-month-long development period during which a disused office building was converted into five mews houses.

Fintan O’Riordan, development finance director at Paragon Bank, said, “Progress on this development has been excellent and it is great to see the first loan we approved now delivering homes.

“Small-scale builders and developers have an increasing role to play in helping [to] deliver the housing the country needs, and development finance is key to facilitating this.

“It has also been fantastic to assist a highly experienced developer on this project. 

“Our business is based upon developing meaningful relationships with experienced developers.”

Since launching in November 2015, the development finance team has expanded to the Midlands and the North of England, offering loans ranging from £500,000 to £10m.

The development at Colbeck Mews, Catford, can be viewed on the Rightmove website.

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