Paragon backs new Broxbourne development

Natasha Cutten

Paragon Development Finance has supported Chase New Homes with the first phase of its Broxbourne development in Hertfordshire.

The firm provided an initial £22m funding package for the 53 luxury homes and will support further phases.

Chase is developing the residential units, known as the Scholars, on land acquired from the prestigious Broxbourne School.

Tony Carey, chief executive of Chase New Homes, said: “New development doesn’t just mean the delivery of houses and apartments.

“Phase one of this project proves that with careful planning and a spirit of collaboration across the public and private sectors, new homes can also mean new amenities for the whole community to enjoy. 

“Demand for homes included in phase one of the scheme are proving popular with buyers and we are excited to commence phase two. As a committed lender, Paragon Development Finance has been integral to this scheme, across both the construction of the school and the new Scholars housing development.”