Farleigh Secures £4.5m Funding for Reading Development
Paragon Development Finance client Farleigh has secured a £4.5 million funding package to support a new residential scheme in Reading.
The finance has assisted with the purchase of land on London Road and the development of 21 one, two and three-bedroom apartments. The scheme also includes a commercial unit on the ground floor of the building.
Work on the scheme has commenced and it is due to be complete by May 2023.
This is the second deal that Paragon has completed with Farleigh. The deal was led on behalf of the bank by Relationship Director Adrian Reeves, with support from Portfolio Manager Bonnie McCloskey.
Robert Mulligan, co-founder of Farleigh, said: “We’re pleased to have started the development on this project, which we feel will be popular with those looking for urban living in a thriving city.”
Founded in 2016, Farleigh is a privately- owned development and investment company based in London.