Wharfedale Homes secures £6.15m Paragon finance for Whitby new build scheme

By Bridging Loan Directory 7th November 2022

Yorkshire-based property developer Wharfedale Homes has secured a £6.15 million funding package from Paragon Bank’s Development Finance division to support its latest development in Whitby.

Eskdale View is a development of 62 new build homes, 19 of which are affordable, in the popular seaside North Yorkshire town.

The development of one, two, three and four-bedroom properties is located at a site just off Green Lane, close to the famous Whitby Abbey.

Work on the site has commenced and the first properties are expected to be complete by Summer 2023. In addition to the homes, landscaped open space will be created, along with contributions to children’s play areas, parks and gardens, public rights of way and health provision.

Wharfedale Homes has a strong history of developing homes across Yorkshire. It has completed over 30 developments in the region across its near 30-year history.

The company focuses on bespoke developments that draw inspiration from the area in which they are located.

This is Paragon’s second development with the company and the deal was led on behalf of the bank by Development Finance Relationship Director Mick Howard and Portfolio Manager Shannon Altimas.

John Edwards, Managing Director at Wharfedale Homes, said:

“We will deliver a good mix of high-quality homes in Whitby. At Wharfedale Homes we take great pride in the bespoke nature of the homes we build, and this site will be no exception.

This development will be a great place to live and is in a truly sustainable location, within walking distance to the town centre, harbour and everything Whitby has to offer.

Paragon has been a supportive partner in this process. Mick and the rest of the development finance team understand how developers operate and the bank has been with us through every step of the way.”

Paragon Relationship Director Mick Howard said:

“Whitby is a popular location because it offers a bit of everything. It has a rich history, beautiful independent shops and restaurants and fantastic walks.

This scheme will be popular with buyers and we are pleased to have been able to support the company with their latest development.”