Paragon Bank’s Development Finance division has provided an £8.75m revolving debt package to Whitehill and Bordon Dev Co New Chase Ltd to support its new build development in Whitehill & Bordon, Hampshire.

The company, which is a part of the Dorchester Regeneration Group, is building 50 homes on the site of the former Acorn Christian Healing Trust on Oldfield Close. The development will include 13 affordable homes, as well as a playground.

The deal was led on behalf of Paragon by Senior Relationship Director Simon Dekker and Portfolio Manager Craig Seabourne. It was introduced to the bank by David Yeadon, Executive Director of SPF Private Clients.

The town of Bordon is undergoing a significant regeneration project through the redevelopment of the former Prince Phillip Barracks, a joint venture for Dorchester Regeneration alongside Taylor Wimpey.

Bordon is located north of the South Downs National Park, within an hour’s drive from London and situated 16 miles to the south of Farnborough and within a half hour drive from Guildford.

James Child, Project Director, Whitehill and Bordon Dev Co New Chase Ltd said: “This is an exciting development that will complement the broader redevelopment of Prince Phillip Barracks. We are looking forward to bringing these properties to market, which will help to contribute to the rebirth of Bordon as a healthy and connected town.”

He added: “Paragon was integral to the project and Simon and Craig have been easy to deal with, ensuring this scheme can come to fruition.”

Paragon’s Simon Dekker added: “This is a great opportunity to support Dorchester Regeneration to bring a wide selection of new build houses and apartments to the local market.  IT is our first scheme with them and we are delighted to have been able to support them with the development funding and look forward to seeing this new scheme come to the market.”

David Yeadon, Executive Director at SPF Private Clients, said: “We are delighted to have provided assistance to our long-standing client in relation to the successful financing of this exciting new residential development in Bordon, Hampshire. This project will further enhance the Town’s ongoing regeneration. The Paragon Team has provided a first-class professional service throughout the process and I look forward to working with Paragon on similar schemes in the future.”

For further information contact:

Michael Clarke
Head of Media Relations
Tel: 07740090746

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.