Developer secures £5.8m funding package for Northfield scheme

A £5.8m funding package has been received by developer Piper Homes, that will assist with the development of 28 homes in Northfield, Birmingham.The funding from Paragon Development Finance will support the acquisition of the site at Sheldon Drive near Longbridge Village and the development of two, three and four-bedroom homes.It’s Paragon’s 14th deal in the last five years with Piper Homes. Previous funding was directed towards 115 homes in Pickford Green, Coventry, 58 houses in Mansfield and 47 units in Ravenshead, Nottinghamshire.In total, Paragon has provided £74.3m of facilities to Piper Homes, delivering 413 new homes with a GDV of £126.8m.The deal was led on behalf of Paragon by senior relationship director Nigel Jackson, with support from senior portfolio manager James Helmore.Privately owned and family run, Solihull-based Piper Homes has built more than 1,000 homes in the region over the past 20 years.Rupert Parkin, director at Piper Homes, said: “We’re pleased to have closed this latest funding package with Paragon, which will aid the delivery of 28 new homes in the Northfield area.“This popular Birmingham suburb is seeing a lot of investment and benefits from excellent transport links into the city as well as proximity to green areas”.Paragon’s Nigel Jackson said: “We’re delighted to be supporting Piper Homes’ latest development in Northfield. They deliver high quality homes in sought after locations and expertly manage the whole development process”.