Paragon Development Finance has provided a £5.32 million financing facility for the Kelham Exchange project. This construction project comprises a mixed-use development and is located in the Kelham Island district of Sheffield. The development is designed to create 43 apartments and four commercial units, reflecting the growing demand for urban living spaces and commercial premises in this region.
The financing extends over a period of 22 months. It supports Catherall Developments Ltd in realising the project. The loan-to-value (LTV) is 65% based on a gross development value (GDV) of £8.248 million. This underscores the confidence in the economic viability and potential of the project.
Kelham Island has developed into a dynamic district in Sheffield in recent years. Formerly an industrial area, it is now undergoing a profound transformation through investment in residential and commercial properties. Projects like Kelham Exchange contribute to the further revitalisation of this district and offer modern infrastructure that attracts both residents and businesses. The combination of residential and commercial spaces is typical of urban development policies aimed at creating vibrant and functional city districts.
The Kelham Exchange project will thus play an important role in the consolidation and further development of Kelham Island. The 43 apartments address a need for high-quality housing, while the four commercial units can stimulate the local economy and create jobs. Such mixed-use projects are crucial for strengthening urban areas and creating balanced infrastructure. With this financing, Paragon Development Finance demonstrates its commitment to supporting important regional development projects in the United Kingdom.
- —Financing volume: £5.32 million
- —Number of apartments: 43
- —Number of commercial units: 4
- —Location: Kelham Island, Sheffield
