An £8.75 million revolving debt package has been provided by Paragon Bank’s Development Finance division to Whitehill and Bordon Dev Co New Chase Ltd.
The funds will support a new build development in Whitehill & Bordon, Hampshire. A total of 50 homes on the site of the former Acorn Christian Healing Trust on Oldfield Close will be built alongside a playground.
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.”
“Paragon was integral to the project and Simon and Craig have been easy to deal with, ensuring this scheme can come to fruition.”
Senior Relationship Director Simon Dekker and Portfolio Manager Craig Seabourne led the project on behalf of Paragon.
Significant regeneration is being carried out in Bordon. It is north of the South Downs National Park, an hour’s drive from London, and within a half-hour drive from Guildford.
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.”