Elevate Property Group has secured a £23.4m funding package for two Midlands-based new build projects from Paragon Bank’s development finance division.
In Solihull, Elevate has secured £11.5m for 60 new build apartments on Homer Road (pictured), and in Nottingham it has received £11.9m from Paragon for the Phase II development of Muller Yard at the company’s Trent Bridge Quays project.
Steve Dodd, managing director of Elevate Property Group, said: “We’re excited about these two schemes. Trent Bridge Quays has been a great success and we look forward to bringing Phase II to market shortly. Meanwhile, Imperial House will be a fantastic addition to Solihull, benefitting those who work in the town, or who commute to Birmingham or London.”
“We have developed an excellent relationship with Paragon and particularly Toby [Burgess, Paragon relationship director] and Josh [Mann, Paragon portfolio manager]. They have been a supportive partner on the schemes on which we have previously worked together and I’m delighted they have backed these two exciting developments.”
Burgess added: “Buyers like Elevate Property Group developments because they offer well-designed spaces with a much higher specification than is commonly seen. Both Imperial House and The Muller Yard are developments we are looking forward to seeing progressing, working with Steve and the team to deliver a great result.”
