Akehurst Homes has secured a £19m revolving credit facility from Paragon Bank to build 52 homes and a commercial space in Lewes, East Sussex.
The scheme will go up on a former poultry site and will include a mix of one to four-bedroom homes, aiming for Energy Performance Certificate (EPC) ratings of Band B and above.
Properties will include apartments, terraced, semi-detached and detached houses.
Two commercial buildings at the front of the site will provide seven units for local businesses, with E Class usage for shops, offices, gyms, restaurants, workshops and other uses.
The deal was structured by Paragon Bank’s development finance team, led by Toby Burgess, relationship director at Paragon Bank and senior portfolio manager Joshua Mann.
Burgess said: “Akehurst Homes is a developer with a clear sense of purpose and a strong track record of delivery.
“This development ticks all the right boxes – a strong local need, a thoughtful housing mix and an emphasis on quality and energy performance.
“We’re pleased to work closely with the team on this second deal, following supporting them on their New Romney development, which is now at practical completion and selling well.”
Burgess added: “We hope to support their growth on more innovative developments in future.”
James Lench, director at Akehurst Homes, said: “This is a landmark project for us – not just in terms of size, but in the opportunity it presents to create a well-balanced and energy-conscious community.
“Lewes is a brilliant location with significant appeal for buyers, and we’re excited to bring forward homes that will truly cater effectively to a wide variety of people and lifestyles.
“The support from Paragon has been instrumental – the bank understands our vision and back our ambition to grow in a considered, sustainable way.”
