East Midlands housebuilder Barry Howard Homes has secured a £6.5 million finance facility from Paragon Development Finance to support a 28 new build home scheme in Weedon, Northamptonshire.

The ‘Grand Union Way’ canal-side development, located on Dodford Wharf Farm, consists of three, four and five-bedroom homes and is due to be complete in the summer. It is located close to the High Street of the popular Weedon village.

A further 19 affordable units are also being delivered as part of the scheme in conjunction with a housing association.

The deal was led on behalf of Paragon by Relationship Director Adrian Reeves and Portfolio Manager Bonnie McCloskey. It was introduced to Paragon by Matthew Cleave from MPC Estates.

Barry Howard, founder of Barry Howard Homes, said: “This scheme benefits from a vibrant village life, but also has close links to Daventry, Northampton and Rugby, which of course have fantastic transport links to London and Birmingham. We have designed these family homes to enhance the village, offering good quality housing in a desirable location.”

He added: “Paragon was very easy to deal with. Adrian and his team have a great knowledge of the East Midlands and Northamptonshire housing market, they know what works and what is popular with buyers.”

Adrian Reeves said: “We pleased to have been able to support Barry Howard Homes with this latest development. The company has built a fantastic reputation for delivering top quality homes over the past 30 years and this scheme will further cement that.”

MPC Estates’ Matthew Cleave said: “Having worked successfully with Barry on a number of his transactions over the past few years, I knew that a relationship with Paragon would be very beneficial for the delivery of this scheme. As always, Paragon have proven to be a reliable partner in securing the funding with the help of Adrian and Bonnie and I am sure there will be many more opportunities for similar projects in the future.”

ENDS

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 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.