Paragon completes £30m facility for 90-home development in West Sussex

Arundel Gate Finance has secured £30m of funding from Paragon Bank for its development of 90 residential homes in Arundel, West Sussex.

Paragon’s development finance division in a deal led by relationship director Toby Burgess and senior portfolio manager Joshua Mann. 

With Esquire Developments appointed as development partner on the Arundel Gate scheme, the project comprises 63 two-, three-, four- and five-bedroom houses for private sale.

One-bed maisonettes and two- and three-bed houses will also be built and allocated for affordable housing. 

The development aims to be all-electric, resulting in a development that is carbon efficient, offering more than a 50% cut in carbon emissions through air source heat pumps and a fabric-first approach to the homes themselves.

The project is set to launch sales at the end of 2023.

“The houses have been designed with sustainability in mind while also reflecting the traditional character of the local area,” commented Henry Arundel, director at Arundel Gate Finance. 

“Twenty of the 27 affordable units will be delivered at social rents in conjunction with the newly formed Arundel Community Land Trust, whose involvement we greatly appreciate.”

Paul Henry, managing director at Esquire Developments, said: “After high demand and success in Kent through both our large and small developments, we are excited to bring new homes and set new standards to such a highly regarded community. 

“We are already receiving enquiries about Arundel Gate which is an encouraging start as we begin to prepare for the launch of this highly anticipated development.”

Toby added: “This scheme will deliver a selection of low-density family homes, attractive outside space and amenities, as well as much-needed affordable accommodation.”

Leave a comment