Burrington Estates secures £28m loan from Paragon

The company is redeveloping a 86-acre estate, which will result in luxury housing, office space and leisure facilities.

Burrington Estates secures £28m loan from Paragon

Burrington Estates has secured a £28m funding package from Paragon Development Finance to support its Winslade Park development in Exeter.

 

The company is redeveloping the 86-acre estate and Winslade Manor at Clyst St Mary, which will result in luxury housing, office space and leisure facilities.

Paragon’s support will finance the development of up to 80 residential units across two parcels of land.

The scheme aims for high sustainability standards, including PV solar panels, air source heat pumps and electric car charging points.

Mark Edworthy, managing director of Burrington Estates, said: “We really appreciate the continued support from Paragon Bank and look forward to delivering this exemplar project at Winslade Park in partnership with the bank.

"A particular thank you to Oliver Thompson and Daniel Cresswell for being very flexible with the terms to suit the deal and for fast and efficient transaction execution as always.”

Oliver Thompson, senior relationship manager at Paragon, added: “We’re delighted to partner with Burrington as they deliver this landmark development in their home city.

"The team have obtained planning approval for an exceptional proposal to sustainably redevelop Winslade Park, whilst maintaining the character of the Grade 2* listed Manor House and surrounding buildings.

"I’m excited to see Burrington bring the proposal to life with their typical high-quality finish and design.”

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