York-based GEM Construction has received a £3 million funding facility from Solihull-based Paragon Bank to support the development of nine-house denning yard housings in Clifton.
The Denning Yard consists of three- and four-bedroom homes, finished to a high standard and sustainable features such as solar panels and charging points for electric vehicles. Additionally, the new home will have a private garden, cycle storage, parking and a communal garden surrounding the site.
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Built on the former Scrapyard site on Wiggington Road, the scheme transforms the former abandoned Brownfield site into a new home. Completion will be paid by November.
GEM Construction is a Yorkshire-based construction business and real estate developer. Founded more than 25 years ago, the company employs 35 full-time staff, including experts from Stonemasonry and Joinery.
The deal was led by relations director Carl Kent on behalf of Paragon Bank and supported by senior portfolio manager Shannon Ultimus.
Mike Green, chairman of GEM Construction, said: “It was a joy to work with the Karl and Paragon Development Finance of Dennings Yard. The new scheme will transform the abandoned location of former Scrappyds in this popular area into nine new homes.
Karl Kent, relations director at Paragon Development Finance, added:
“Since joining Paragon about a year ago, we have worked with several Yorkshire developers to bring much-needed homes to the area. As Paragon is becoming increasingly popular with developers and buyers, it is our priority to continue supporting Yorkshire schemes.”
