UK Housing Development in Preston Secures £8.8 Million Funding

Paragon Development Finance has extended an £8.8 million funding package to the Oakwood Group, earmarked for a new residential scheme in Broughton, near Preston, United Kingdom. This financial commitment covers both the acquisition of the site at Garstang Road and the subsequent construction phase of the development.

The project plans outline the creation of 51 new homes. A key component of the scheme is the inclusion of 20 affordable housing units, addressing local housing needs within the community. The funding underscores continued investment in regional UK housing markets.

This initiative highlights the ongoing activity in residential property development outside major urban centres, supported by specialist finance providers aiming to increase housing supply.