Newett Homes has secured a £7.5 million funding package from Paragon Development Finance to support a new build home development in Huddersfield.

The finance will assist with the purchase of land in the Fenay Bridge area of Huddersfield and the subsequent development of 54 private and 14 affordable two, three and four-bedroom homes.

This is Paragon’s first deal with Newett Homes. The deal was led on behalf of the bank by Senior Relationship Director Simon Dekker with support from Senior Portfolio Manager Craig Seabourne.

Newett Homes is a jointly owned business by David Newett and his youngest son Will Newett. The company has developed an excellent reputation for high quality developments in the Yorkshire region.

In addition to this new scheme in Huddersfield, it also has developments in the pipeline in Sheffield, Ripon, Harrogate and Rotherham.

Will Newett, Newett Homes director, said: “This will be a high-quality residential scheme that caters for the needs of a wide range of groups including first time buyers, growing families and downsizers. The development will be sympathetic to the local area, within an attractive landscaped setting.”

He added: “Paragon Development Finance has been first class. It’s a bank that understands the needs of developers and working with Simon and his team has been seamless. We are excited to partner with the company on this scheme.”

Paragon’s Simon Dekker said: “This new development will bring high-quality homes to the area. David and his son Will have a great track record of delivering well-designed homes in Yorkshire that are popular with buyers. They also focus on ensuring their schemes are sympathetic to the environments in which they are built.”

For further information contact:

Michael Clarke
Head of Media Relations
Tel: 07740090746
www.paragonbank.co.uk 

Notes to editors:

Paragon provides competitive property development finance up to the value of £35 million across England and Wales.

Paragon Bank Development Finance Limited is a member of the Paragon Banking Group which is a FTSE 250 group based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group has over £13 billion of loan assets under management and manages over 450,000 customer accounts.

Paragon Development Finance Limited. Registered in England number 03901943. Registered office 51 Homer Road, Solihull, West Midlands, B91 3QJ.