£3.3m development finance backs Derbyshire trade park

A £3.3m development finance facility from Paragon Bank’s Development Finance division will fund Litton Properties’ plans for seven units at Markham Vale Trade Park in Derbyshire.

The deal is Paragon’s first completed transaction since it launched its light industrial lending earlier this year. The bank points to strong occupational demand and limited supply of quality space in the sector.

The funding will support a new 31,264 sq ft trade park aimed at trade counters, suppliers and logistics occupiers, with practical completion due in Q2 2027. The units will target an EPC A rating and a BREEAM ‘Very Good’ accreditation, with solar panels and electric vehicle charging points. Litton Properties, established in 1995, develops and operates industrial and logistics assets.

Markham Vale (pictured) has more than 70 occupiers across the wider development, including Great Bear, Bilstein Group and Smurfit Westrock. The scheme has created more than 2,700 jobs to date.

“Markham Vale has established itself as a highly successful commercial destination, attracting a broad mix of occupiers thanks to its strategic location and excellent transport links,” said Mark Twelves, managing director at Litton Properties.

“We continue to see sustained strong demand for high-quality employment space across the region, and we hope this development will help address that need. We are very pleased to be working with Paragon Development Finance on this project and have been impressed by the team’s pragmatic approach throughout the funding process.”

“Light industrial developments continue to play an important role in local communities, helping businesses expand while creating jobs and attracting investment,” said Neal Moy, managing director of Paragon Development Finance.

“Markham Vale is already a well-established business destination, offering excellent connectivity and a strong mix of occupiers. Combined with Litton Properties’ proven expertise in the industrial sector, this development is ideally placed to meet growing demand for high-quality, sustainable space.

“Our light industrial proposition was designed to support experienced developers in a market with strong long-term opportunities, and this transaction demonstrates exactly why. We’re pleased to have completed our first deal and are excited about continuing to grow our presence in the sector.”