Developer in £8.8 million housing scheme boost

Plans for a 50-plus home scheme have moved forward after a developer landed multi-million-pound support.

Oakwood Group has secured £8.8 million backing to deliver a North West venture.

The firm says the cash will buy a site in Broughton, near Preston, which will house 51 homes, including 20 affordable properties.

The business was backed by Paragon Development Finance to purchase the land, with the estate set to be built by Liverpool-based Oakwood Group’s construction business Oakwood Construction (Northern).

The facility was led by Nigel Jackson, Paragon Development Finance senior relationship director, and senior portfolio manager Shannon Altimas.

Jonathan Ball, Oakwood Group managing director, said: “This scheme has taken considerable time and effort to bring forward, and we are delighted to have reached this stage.

“Having a funding partner that understands our business and shares our long-term approach has been invaluable throughout the process.”

Nigel added: “We are pleased to support Jonathan and the Oakwood team on what is an important development.

“The inclusion of affordable housing alongside energy-efficient homes will help ensure the scheme delivers long-term benefits for the local community.”

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