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Paragon Bank supports London Property Ventures with £2m development finance funding 

Paragon Bank has provided a £2 million funding package to London Property Ventures to support an Epsom-based housing development targeted at first-time buyers. 

The funding from Paragon’s Development Finance division has enabled the purchase of the site through a land loan. It will subsequently fund the development of Aviary Court, a conversion and extension scheme of existing units into 10 residential homes. 

The site currently comprises two vacant office buildings that will be extended and converted into the bespoke residential units. It is the second London Property Ventures’ scheme that Paragon has supported and is due to be completed mid-2021.

Matthew Jordan, CEO of Investment at London Property Ventures, said: “There is a growing demand for property in areas that offer green spaces and access to the countryside and Epsom is a great location that offers these benefits, whilst still being close to London. We’re confident these homes will be popular with first-time buyers. 

“Paragon was very attentive throughout the process and project-managed the loan with great professionalism. Andrew Fairly and Joshua Mann from the team were a pleasure to deal with.”

Andrew Fairley, Senior Relationship Director at Paragon, said: “It is great to be able to support with funding for this scheme as it aims to bring more much needed housing for first-time buyers in an area within easy reach to London.

“Over the past few months, it has been our priority to support both new-to-bank and existing clients, so we are pleased that we have been able to continue our relationship with London Property Ventures through assisting with the development of Aviary Court.”

The ten residential units of Aviary Court will be privately gated and will all benefit from off-street parking, with Epsom town centre being just five minutes’ walk away. The development not only falls under the Government’s Help-to-Buy scheme but provides a high-end product, whilst offering the support of a 10-year structural warranty.

For further information contact:

Amy Lange
Media Relations Manager
Paragon Bank
Tel: 0121 712 2526

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