Former school site to become housing development with new funding

Paragon Bank has provided financial support for a new housing development in Kettering, Northamptonshire.

The £2.9m funding package will assist the joint venture between Castlegate Homes and Craneview EM for the Maplefields development, which will see 14 new homes built on the site of the former Maplefields School on Beatrice Road.

The development will offer a mix of two to four-bedroom bungalows and detached houses, each with a garage, off-road parking, and large gardens.

Prices for the homes range from £350,000 to £435,000, and the location offers easy access to Kettering town and train station, with direct trains to London in just 50 minutes.

Chris Wardrop, co-owner of Castlegate Homes and founder of Craneview EM, project-managed the scheme, with his construction company acting as the main contractor.

Wardrop said: “I have thoroughly enjoyed working with Steve and Ashling from Paragon on my second deal with them. They make the funding process as painless and straightforward as possible, and it is a genuine pleasure to deal with people who understand the property development business.

“I am currently working on several new schemes and will certainly be discussing my future funding requirements with Steve and Ashling.”

The funding was arranged by Paragon Development Finance’s senior relationship director Steve Hallam, with support from senior portfolio manager Ashling Quinn.

It marks the second deal Paragon has facilitated for Craneview EM.

Hallam said: “It’s been great to support Chris & Craneview on another, very attractive scheme in this popular town in Northamptonshire. At Paragon, we support experienced developers like Chris, who understand the industry and know what it takes to create a successful scheme such as this one.

“It’s been especially pleasing for us to help support the transformation of the site from a derelict former school to 14 desirable homes which enhance the local area.”