Stonewood secures £3.7m Paragon funding for 18 home scheme
Gloucestershire-based property developer Stonewood Partnerships has secured a £3.7m funding package from Paragon Development Finance to assist with an 18 home scheme in Calne, Wiltshire.
The ‘Courtyard’ development is on the site of a historic mansion that belonged to the Harris meat family, and includes 11 new-build and seven Grade II listed conversions of the remaining buildings on the estate.
Four two-bedroom apartments and a one-bedroom apartment will be developed in a former stable block, while a former coachman’s cottage will be extended to become two two-bedroom cottages.
The 11 homes will be grouped around a central courtyard and public space on the site of the mansion once known as Woodlands. They will include seven three-bedroomed terraced homes, three three-bedroomed cottages and a one-bedroom bungalow.
Stonewood Builders specialises in restoring listed buildings, while Stonewood Partnerships will build the new homes.
Adam Marks, commercial director at Stonewood Partnerships, said: “We’re excited to return these buildings to their former glory.
“We want to strip the building of the add-ons that have been built over the years to return it to its original state, including revealing three stone pillars that have been hidden.
“We are also creating beautiful new homes that reflect the history while embracing all the modern comforts, as well as being light, airy and welcoming.”
He added: “Paragon’s team has been supportive throughout this complex project and has shown great willingness to support us, enabling us to get started on the scheme.”
Toby Burgess, relationship director at Paragon Development Finance and Joshua Mann, portfolio manager, led the deal on behalf of the bank.
Burgess said: “Stonewood has a fantastic track record of high-quality developments that are sensitive to the area in which they are based and we are confident that The Courtyard will be no different. We are looking forward to seeing the scheme progress.”