A first for 3West Group and Paragon Bank

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  • Finance: £12.5 million
  • Location: Exmouth, Devon
  • Units: 81 houses
  • Paragon Deal Team: Relationship Manager James Helmore; Portfolio Manager Megan Andreou

South West-based property developer 3West Group secured a £12.5 million funding package from Paragon Bank’s Development Finance team to support its latest development. This was 3West Group and Paragon’s first funding package together.

3West Group is an independent housebuilder creating high-quality, desirable homes in sought-after locations across the South West of England. Its homes are built to the highest specification, providing kitchens from Exeter-based System Six with integrated Bosch appliances, well-appointed bedrooms with built-in wardrobes and electric car charging points. 

The funding package supports the first phase of the Goodmores development, which consists of 81 two, three and four-bedroom houses. In addition to new housing, the Goodmores scheme will deliver a site for a new school, playing pitches and five acres of mixed employment land, together with woodland walks and open spaces for residents to enjoy.

The scheme is surrounded by picturesque East Devon scenery, lying moments away from Woodbury Common, a short distance to the two-mile long Exmouth beach and with easy access to Exeter city centre.

The funding is Paragon’s first deal with 3West Group and was led on behalf of the bank by Relationship Manager James Helmore.

 “We’re delighted to be working with Paragon on the first phase of the Goodmores development, delivering high quality, innovative and customer-focused homes in the town of Exmouth. We’re looking forward to welcoming our first buyers to their new homes later this year.

“We have developed a strong working relationship with James and the team at Paragon. They have shown a great understanding of our business and made the funding process organic and straightforward.”

James Fowler, Director at 3West Group

 “This is our first deal with 3West and we are pleased to be assisting them on this first phase of the Goodmores development. Works are already well underway and we look forward to seeing the scheme take shape over the coming months and continuing our relationship with the team.”

James Helmore, Paragon Bank Relationship Manager

Find out more about how we can support your business on our Development Finance page.

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