CPD secures £4.9m Paragon finance package for Portishead ‘ARC’ scheme

By Bridging Loan Directory 18th May 2022

Complete Project Development (CPD) has secured a £4.9 million finance package from Paragon Development Finance to support its new build apartment scheme in Portishead.

Perfectly positioned on the fringes of Portishead Marina at Harbour Road, ‘ARC’ is home to 26 new apartments.

With one, two and three bedroom homes available, including a penthouse with panoramic views, all apartments are finished to a high specification.

CPD has built a strong reputation for development projects in the South West, primarily Bristol. Previous schemes include the conversion of 25 Portland Square in the city and Orchard House, the conversion of a 1960s apartment block into 54 units.

The funding was led on behalf of Paragon by Relationship Director Adrian Reeves, with support from Portfolio Manager Bonnie McClosky.

Jonathan Turner, CPD Director, said:

“The ARC benefits from a fantastic location on the fringes of Portishead Marina, ideally located for the marina itself but also the shops, bars and leisure facilities that this burgeoning area has to offer.

It is also in easy commuter distance to Bristol and is on the doorstep of the M5.”

Paragon saw the potential of the scheme immediately and was the perfect finance partner to work with.

The process was smooth and enabled us to progress with the scheme with confidence.”

Adrian Reeves, Paragon Development Finance Relationship Director, added:

“CPD is a growing development company that focuses on high quality.

It has a fantastic track record in producing stylish homes that people want to live in and we’re confident the ARC will be just the same.”