Chase New Homes has secured a £13 million finance package from Paragon Bank to support the development of 24 high-end bespoke homes in Cheshunt, Hertfordshire.
Chase Farm will consist of a range of new homes from two bedroom to five bedroom across one and two storeys, constructed in ‘farmhouse and barn’ style designs in keeping with this rural location.
Construction is expected to commence in early 2025, with the scheme due to be complete by 2026.
The scheme is located just a five-minute drive from Cheshunt train station, which provides regular services to London’s Liverpool Street Station.
STUNNING HOMES
This latest deal is the sixth scheme Paragon’s Development Finance division has worked with Chase New Homes. The deal was led on behalf of the bank by Senior Relationship Director Simon Dekker, with support from Portfolio Manager Izzy Sargeant.
Previous deals include Chase’s 170-unit housing scheme in Saffron Walden in 2023 and the Scholars development in Broxbourne, which included the construction of a new school.
Gary Barton, Chase New Homes Chief Executive Officer, says: “This new scheme will deliver stunning new family homes to an area that is within easy commuter distance to the heart of London.
Built in farmhouse and barn style designs, the homes are in keeping with the beautiful countryside that surrounds this area. Working with Simon and the team at Paragon was, once again, a smooth experience.”
Dekker adds: “This is our sixth scheme with Chase.
The company produces high-quality homes that hit the right note with their target audience, so we are delighted to support them with this latest development.”
Property Soup revealed last month how Cammaro had secured a funding facility and stabilisation loan from Paragon Bank’s Development Finance division for a new £32 million, 138-unit purpose-built student accommodation (PBSA) scheme in Cambridge.
