Paragon Bank

Burley Road Ltd secures £12.3m loan from Paragon for Leeds residential development



Paragon Development Finance has provided a £12.3m loan — agreed on a 30-month term — to Burley Road Ltd to assist with development of 110 new apartments on the site of the former Burley Liberal Club in Leeds.

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The residential scheme will comprise 104 private and six affordable one-, two- and three-bedroom apartments spread across two five storey buildings located one mile from Leeds city centre.

Building work commenced in February 2021 and is due to complete in August next year. 

Sales of the apartments have already commenced with North Property Group exchanging on 40 apartments, and a further 26 reserved.

The deal was led on behalf of Paragon by senior relationship director Simon Dekker and senior portfolio manager Craig Seabourne.

Timothy Smith, director at Burley Road Ltd, said: “This site enjoys an excellent location just minutes away from the city centre and close to Cardigan Fields, which has an array of restaurants and entertainment facilities. 

“The development will regenerate land that has been dormant for many years, breathing new life into the area.”

“Simon and Paragon were very easy to deal with; they are highly experienced and understand the needs of developers, so the process was smooth and structured to meet our requirements.”

Simon added: “This scheme complements the local area perfectly and the apartments are already proving popular with buyers. 

“We look forward to working with Timothy and his team as the construction progresses.”  



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