Chase New Homes has secured a £26m finance package from Paragon Bank’s development finance division to support delivery of a 170-unit housing scheme in Saffron Walden, Essex.
In addition to facilitating the acquisition of the 13-acre site at Thaxted Road, the funding will support the development cost of the scheme, which will offer up to 102 private units and 68 affordable units.
Gary Barton, managing director of Chase New Homes, said: “We are delighted to receive funding from Paragon Bank for our latest development at Thaxted Road. The team at Chase is passionate about designing and creating high quality homes. We strive to provide an exceptional service and it is this ethos and commitment that has helped us grow a strong brand within the industry over the years.
“Our strong relationship with Paragon continues to grow with the funding for Thaxted Road. Paragon plays a crucial role in delivering these superb developments for our customers and I would personally like to thank Simon Dekker and Izzy Sargeant from Paragon Bank for their valued and combined efforts to secure this funding.”
Simon Dekker, Paragon Bank development finance senior relationship director, added: “We are pleased to assist Chase New Homes with this exciting scheme in Saffron Walden. We look forward to seeing the scheme take shape over the coming months and continuing our relationship with the team.”
Construction of the scheme is expected to commence in spring 2024 and to be completed by spring 2027.
