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£3.3m finance package for Lodge Park Homes’ Wavendon scheme

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  • Finance: £3.3 million
  • Location: Wavendon, Milton Keynes
  • Units: 23 apartments 
  • Paragon Deal Team: Relationship Director Adrian Reeves and Portfolio Manager Bonnie McClosky

Lodge Park Homes was inspired to develop its new apartment scheme in Wavendon after receiving increasing inquiries from Londoners who wanted to leave the city for the countryside in light of the Covid-19 pandemic.

Laine Rise is a development of 23 new build apartments, including seven affordable units and have been designed to offer more space than a typical flat, with some units reaching 1,000 square foot, the same size as a typical three-bedroom house. We provided a funding package of £3.3 million to support the company with the development.

The deal is the fourteenth finance facility Paragon has provided to the company, led by Relationship Director Adrian Reeves and Portfolio Manager Bonnie McCloskey.

“Paragon was once again very easy to deal with. The company saw the value in the scheme straight away and the process was smooth and simple. These apartments offer something different to the usual.”

James Browning, Lodge Park Technical Director

“These apartments are as spacious as a family home and cater for both existing Milton Keynes residents, but also those maybe looking to leave the capital for some more space. Milton Keynes is less than an hour into London, so it’s an ideal location.”

Adrian Reeves, Paragon Development Finance Relationship Director

To find out how we can support your business, visit our Development Finance webpage.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551