Housebuilder 3West Group has secured a £12.5m finance facility with Paragon Bank’s development finance division to support a new housing project in Exmouth, Devon.
The finance facility will fund the first phase of the Goodmores development, which will provide 81 two-, three- and four-bedroom homes.
James Fowler, director at 3West Group, said: “We’re delighted to be working with Paragon on the first phase of the Goodmores development, delivering high-quality, innovative and customer-focused homes in the town of Exmouth. We’re looking forward to welcoming our first buyers to their new homes later this year.
“We have developed a strong working relationship with James and the team at Paragon. They have shown a great understanding of our business and made the funding process organic and straightforward.”
James Helmore, Paragon relationship manager, added: “This is our first deal with 3West and we are pleased to be assisting them on this first phase of the Goodmores development. Works are already well underway and we look forward to seeing the scheme take shape over the coming months and continuing our relationship with the team.”
