Paragon funding facilitates Akehurst Homes New Romney development

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  • Finance: £7.9 million
  • Location: New Romney, Kent
  • Units: 34 houses
  • Paragon Deal Team: Relationship Director, Toby Burgess and Portfolio Manager Joshua Mann

Akehurst Homes secured a £7.9 million finance facility with Paragon Development Finance to support its new build project in New Romney, Kent.

Akehurst Homes was established in 2009 by James Lench, locating and expanding property opportunities in the South of England. Development is at the centre of Akehurst Homes and the company is split between developing innovative and sustainable housing for sale and the procurement of planning permissions of land for onward sale.

How we helped

The funding enabled the company to acquire land to commence phase three of the New Romney development, consisting of 34 two, three and four-bedroom homes.

The development sits alongside playing fields and is within walking distance to schools, placing it at the heart of the community.

“We’re pleased to work on our first project with Paragon, delivering high quality, innovative and sustainable homes in the historic town of New Romney. We have developed a strong working relationship with Toby and the team at Paragon. They have supported this project with Akehurst Homes, naturally and with ease. Paragon understands our business and are straightforward to deal with.”

James Lench, Managing Director Akehurst Homes

“This is our first loan for Akehurst Homes and we are delighted to be supporting them in what will be their third phase in New Romney. Our facility will enable James and the team to deliver 34 fantastic houses for sale on the open market. A big thank you to our professional advisers on the deal, including Pride Consulting IMS, Strutt & Parker and Glovers.”

Toby Burgess, Relationship Director

To find out more 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