Paragon Bank supports Yorkshire developer Hawthorne Meadows Homes with £5.4m development finance funding
Paragon Bank has provided an £5.4m funding package to Hawthorne Meadows Homes Ltd, part of Ground Group Ltd, to support a Derbyshire-based housing development of 39 homes.
The funding from Paragon’s Development Finance division has enabled the second phase of development of 39 two, three and four-bedroom new homes at Hawthorne Meadows, Barlborough.
Hawthorne Meadows comprises 157 homes in total. It is the second time Paragon has been able to support the developer, with a number of future projects in the pipeline.
Nigel Griffiths, director at Ground Group, said: “The support from Paragon has enabled more much-needed housing to be developed in Derbyshire. Hawthorne Meadows offers high-quality housing in a convenient location, close to Barlborough village itself and within easy access of the M1.
“We were particularly were pleased with the support provided from the development finance team at Paragon during all stages of the process, from monitoring of the application to the drawdown of documentation.”
Mick Howard, relationship director at Paragon, said: “It is great to be able to support Hawthorne with funding for this scheme.
“Over the past few months, it has been our priority to support both new-to-bank and existing clients, so we are pleased that we are able to continue our relationship with the business through assisting with this development and those in the pipeline.”