Paragon Development Finance

Paragon lends £3.5m for Romford development

Paragon Development Finance provided a £3.5m funding package to property developer Burney Essex Ltd for a residential development in Romford.

The finance was used to support the transformation of a former car sales business site into 19 one- and two-bedroom apartments, reaching out to the first-time buyer and investor markets.

Interior shot of one of Brick House’s apartments

Daren Burney, managing director at Burney Essex Ltd, said: “We transformed the former car sales business and office to offer a luxury series of modern apartments, particularly well suited for first-time buyers due to the availability of the help to buy scheme. 

“The project was made much easier by Paragon’s great relationship managers, who thoroughly understood our needs as developers and were able to provide excellent support throughout all stages of the development as it progressed.”

Adrian Reeves, relationship director at Paragon, added: “We are delighted to continue our support for new developments in this area, even more so as Brick House is giving the opportunity for first-time buyers to get on the property ladder.”

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