The loan will enable the delivery of 57 private homes at Willow Bank in Ramsbottom, Greater Manchester.

Willow Bank is situated on the site of the former Holcombe Paper Mill, which was closed in 2008 and largely demolished in 2012.

Eccleston Homes has retained the Holcombe Mill chimney stack as a feature andthe scheme is designed to provide public areas of open and green space.

Works commenced last year following extensive site remediation, with construction well underway.

The homes were offered to the market in September, and seven plots have already been reserved.

The development will offer a mix of mews, semi-detached and detached homes, ranging from two- to four-bedrooms.

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Smaller units will feature private parking spaces, while four-bedroom detached homes will have integral or detached garages. EV charge points will also be available for every home.

The deal was led on behalf of Paragon Bank by Simon Dekker, senior relationship director, with support from Izzy Sargeant, portfolio manager.

Simon commented: “We’re proud to support Eccleston Homes in bringing new life to the Holcombe Paper Mill site, creating much-needed homes which blend history with modern living.

“Our role is to empower SME developers to deliver projects that make a real difference locally and this scheme is a testament to what can be achieved with positive collaboration.”

Kevin Marren, founder and managing director at Eccleston Homes, said: “With Paragon’s backing, we’re delivering quality, sustainable homes that are built for the future.

“We’re excited to see the first residents move in and become part of this new chapter for the town.”