WeBuild Developments has secured the capital from Paragon’s development finance division to fund the conversion of an office building into residential accommodation.

Located in Chertsey, the building will be transformed into 73 one - and two-bedroom flats.

Eastworth House traditionally operated as a 40,000 sq ft office space for tenants such as DHL and Samsung.

The deal between Paragon and Sussex-based developer WeBuild originated from an introduction by Paul Lyons at Carbon Financial, a Surrey and Brighton-based brokerage.

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Paragon relationship director Greg Dunne and portfolio manager Anisha Thawrani led the deal.

“This conversion scheme will provide much-needed new housing to the Chertsey area, delivering high-specification apartments aimed at first-time buyers,” said James Harding, director at WeBuild.

“It’s been great to work with Greg and the Paragon team, the process has run smoothly and we’re looking forward to working with them on this scheme.”

Greg added: “This promises to be an exciting new development and we’re delighted to be working with WeBuild to turn disused office space into 73 brand new apartments in such a popular area.”