Building Paragon’s presence in Scotland with Ambassador’s East Lothian scheme

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  • Finance: £9.5 million
  • Location: Wallyford, East Lothian
  • Units: 67 units
  • Paragon Deal team: Toby Burgess, Paragon Development Finance by Relationship Director and Joshua Mann, Paragon Bank Portfolio Manager

Ambassador Living secured a £9.5 million finance facility from Paragon Bank’s Development Finance division for the completion of its Wallace Park project in Wallyford, East Lothian.

The Paragon funding will support the development of the project’s remaining 67 private homes, which comprise of three, four, and five-bedroom bespoke detached properties.   

All homes boast flexible layouts to suit every dynamic, from families to professionals, with a high standard-of-living throughout and maximum energy efficiency, with every private home anticipated to achieve an EPC A rating.

Ambassador Living is an independent, award-winning family-owned Scottish homebuilder, with a proud heritage and track record in the housebuilding industry. Daring to be different and unafraid of change, Ambassador Living delivers properties that are on the pulse of how modern homebuyers would like to live.

The Wallace Park funding comes under Paragon’s Green Homes Initiative, which supports SME housebuilders to develop new domestic properties with the highest energy performance standards. Under the scheme, developers delivering homes with an Energy Performance Certificate rating of A will receive a 50% reduction on loan exit fees.

The deal was led on behalf of Paragon Development Finance by Relationship Director Toby Burgess, alongside support from Portfolio Manager Joshua Mann. Paragon is expanding its presence in Scotland, with Toby based in the country.

“I’m delighted that Paragon Development Finance shares both our vision for Wallace Park and our commitment to providing bespoke family homes of the highest standard. Taking the time to learn about our values and requirements, Toby and the team delivered an ideal funding package that will help bring our new properties to market and provide buyers with a perfect new home.”

 Gordon Howe, Financial Controller at Ambassador Group

“Paragon Development Finance is proud to support one of Scotland’s leading developers to bring essential, high-quality homes to market. Ambassador Living’s commitment to excellence and energy efficiency will provide buyers with ideal properties, and I greatly look forward to following Wallace Park’s development in the months ahead and the benefit it will bring to the region.” 

Toby Burgess, Relationship Director at Paragon Development Finance

Find out more about how we can support your business on our Development Finance page. To see more of what the Development Finance team get up to, make sure you’re following their LinkedIn page here.  

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