Paragon assists Feltham Properties with £14.2m finance for Slough apartment scheme

By Bridging Loan Directory 8th February 2022

Paragon Development Finance has completed a £14.2 million facility with Feltham Properties to support the development of its new apartment scheme, Hartford Point, serving Burnham Station, Berkshire.

Hartford Point is a new luxury development of 75 one and two-bedroom apartments.

The apartment block will benefit from a large communal roof terrace over 2,500 sq ft. with seating areas and an outdoor gym. There will also be 60 undercroft car parking spaces at ground floor level.

Construction has commenced on the scheme, which is located within a few minutes’ walk of the Burnham Crossrail station, and will be complete in the third quarter of 2023.

The financing was led on behalf of Paragon by Relationship Director Toby Burgess and Portfolio Manager Joshua Mann.

Paragon was advised by Thomson Snell & Passmore, BNP Paribas and MDA Consulting.

The Feltham Group dates back to 1972 and has 50 years’ experience in delivering quality projects across Berkshire and the Thames Valley.

Feltham Properties was incorporated in 2013 to engage directly in development opportunities of all shapes and sizes.

All Feltham Properties developments are built by their specialist in-house team at Feltham Construction.

Sean Bates, Managing Director Feltham Properties, said:

“Feltham is thrilled to be bringing forward this exciting and progressive scheme in the heart of the Thames Valley, immediately adjacent to Slough Estates and Crossrail.

Toby and the team at Paragon have been supportive throughout. We enjoy a good relationship with Paragon as they truly understand what we require.”

Toby Burgess added:

“Feltham is a hugely experienced and well-regarded developer and contractor which we are delighted to be supporting.

Hartford Point will provide 75 high quality apartments, well located within easy reach of Reading and London thanks to Crossrail. We look forward to working with Sean and his team as the project comes to life.”