Tuesday, November 24, 2020

£1.6m funding for Nottingham developer transforming care home into residential apartments

Paragon Bank has provided a £1.6 million development finance loan to Nottingham-based developer, Hockley Developments Ltd, for the conversion of a care home into residential
apartments.

The funding from Paragon’s Development Finance division has enabled the purchase and
development of the former care home in Nottingham into Millbeck House, 26 self-contained
residential apartments.

Millbeck House is a mix of one and two-bedroom properties with parking available and is expected to be completed in May 2021, with Help-to-Buy available. This is the first scheme that Paragon has supported Hockley Developments on.

Alan Forsyth, Managing Director at Hockley Developments, said: “From the first phone call with the team at Paragon, I felt the service provided was right for us at Hockley Developments. The team has been very efficient and straightforward to deal with and has always been available when required.”

Anil Sehmi, Paragon’s Midlands-based Regional Relationship Director, said: “It is great to be
able to support with funding for this scheme as it aims to bring more much needed housing to the East Midlands, particularly suited to first-time buyers with the availability of the Help-to-Buy scheme.

“Over the past few months, it has been our priority to support both new-to-bank and existing clients, so we are looking forward to hopefully continuing our relationship with Hockley Developments.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Four national businesses sign up to £30m mixed-use scheme in Nottingham

Four nationwide operators have signed contracts to open new premises at a £30 million mixed-use scheme in Nottingham. Gedling Borough Council has granted planning permission...

10,000 sq ft office development takes step forward in Castle Donington

Clowes Developments’ Paul Shanley has achieved a detailed planning consent for a 10,000 sq ft two storey office block at EMDC, Castle Donington. The build...

A very unconventional Christmas gift list, but perhaps right for the moment: by James Pinchbeck of Streets Chartered Accountants

James Pinchbeck, Partner at Streets Chartered Accountants, presents gift ideas for business people and employees in the post-Covid world. With Christmas seemingly the only certainty...

Breedon appoints CFO designate

Breedon, the Leicestershire-based construction materials group, has appointed James Brotherton to the executive management team as Chief Financial Officer (CFO) designate. James was CFO of...

Northampton-headquartered automotive specialist secures £750k CBILS support

IN‘n’OUT Autocentres, a group of 27 car garages across the UK, has secured a £750,000 loan from HSBC UK through the Coronavirus Business Interruption...

Related news

Healthcare group acquires Chesterfield residential care provider

Envivo Group, the specialist healthcare group, has added the management of 72 specialist adult healthcare properties into its growing UK portfolio following a significant...

Four national businesses sign up to £30m mixed-use scheme in Nottingham

Four nationwide operators have signed contracts to open new premises at a £30 million mixed-use scheme in Nottingham. Gedling Borough Council has granted planning permission...

10,000 sq ft office development takes step forward in Castle Donington

Clowes Developments’ Paul Shanley has achieved a detailed planning consent for a 10,000 sq ft two storey office block at EMDC, Castle Donington. The build...

A very unconventional Christmas gift list, but perhaps right for the moment: by James Pinchbeck of Streets Chartered Accountants

James Pinchbeck, Partner at Streets Chartered Accountants, presents gift ideas for business people and employees in the post-Covid world. With Christmas seemingly the only certainty...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close