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Paragon continues support for South West residential development

Paragon is continuing its support for residential development projects in the South West, providing a £15.5m funding package to City and Country to assist with the final phase of their landmark development in Bristol, The General.

City and Country, which specialises in transforming old or disused buildings and land into new living spaces, is converting the listed former hospital in the centre of the city into high end, contemporary properties.

Paragon Development Finance’s funding will facilitate the last phase of the project and represents further support for South West projects. Over the last five years, Paragon has committed facilities in excess of £300 million in the region and funded a number of high-profile schemes, including:

  • The Former Redland School for Girls, Redland, Bristol – a £21.5m facility to Juniper Homes to assist with the conversion of a listed former school into a number of new apartments and houses.
  • The Former Brooks Laundry, St Werburgh’s, Bristol – a £22.8m facility to Galliard Homes to assist with the re-development of a former commercial laundry site into new houses.
  • Jolly’s, Milsom Street, Bath – a £6.1m facility to Bath Estates to assist with the conversion of unused space above the House of Fraser in Bath city centre into apartments.
  • Brunel House, Ashley Down, Bristol – a £12.7m facility to Acorn Property Group to assist with the conversion of a former school into new apartments.
  • Hope House, Bath – a £36.7m facility to Galliard Homes and Acorn Property Group to assist with the conversion of a former school and grounds into a number of new apartments and houses.

Tim Sargeant, owner of City and Country, said:
The Paragon team listened to our requirements and were able to quickly structure a great deal that matched our operational needs. They then closely controlled the process from credit approval through to drawdown, ensuring a swift completion to the transaction.

A first-class experience and we look forward to continuing our relationship with them.
The General

Nigel Jackson, Senior Relationship Director at Paragon commented:
We are delighted to continue our support for new developments in the South West, working alongside a fantastic existing client base that are involved in some exciting projects in the region.

Paragon’s Development Finance team are actively seeking new opportunities in the Bristol, Bath and wider South West region

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