Wharfedale Homes obtains £6.15m Paragon finance for ...

Wharfedale Homes has secured £6.15 million in funding from Paragon Bank’s Development Finance.

The package will support the development of 62 new-build one to four-bedroom homes in Whitby. In total 19 of these properties will be affordable.

Work is underway in Yorkshire

Work on the site has begun and the first properties are expected to be complete by the summer of next year. The developers also plan to include landscaped open space along with contributions to children's play areas, parks, gardens, and more.

Wharfedale Homes has already completed over 30 developments in Yorkshire. This is Paragon’s second development with the company 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.”

He added: “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.”