Paragon Bank has provided a £9.25 million finance facility to support SME developer Eccleston Homes in delivering 57 high-quality private homes at Willow Bank in Ramsbottom, Greater Manchester.
The lender's development finance division is backing Eccleston Homes for the second time, following its funding of another scheme in Urmston, Brook House Place, which is currently under construction. Paragon Bank has financed the delivery of over 13,000 homes since 2018, underlining its commitment to supporting SME developers across the Northwest and nationwide.
Willow Bank is situated on the site of the former Holcombe Paper Mill, which closed in 2008 and was largely demolished in 2012. Located between the East Lancashire Railway, Ramsbottom station and Ramsbottom Cricket Club, the development represents the largest single housing scheme in the town for nearly 200 years. The project will transform previously developed land into a vibrant new residential community.
Eccleston Homes has retained the historic Holcombe Mill chimney stack as a feature, with the scheme thoughtfully designed to provide public areas of open and green space, enhancing the local environment. Works commenced last year following extensive site remediation, with construction well progressed. The homes were offered to the market in September, and seven plots have already been reserved, reflecting broad appeal of the development.
The development will offer a mix of mews, semi-detached and detached homes, ranging from two to four bedrooms. All homes will be two-storey, except for the Delamere, which will be 2.5-storey. Smaller units will feature private parking spaces, while four-bedroom detached homes will also benefit from integral or detached garages. EV charge points for every home will further support modern and sustainable living standards.
Ramsbottom has become one of Greater Manchester's most desirable residential enclaves. Its semi-rural, village feel, proximity to Manchester city centre and excellent motorway links, including the M66 just two miles east, make it highly attractive to families and professionals alike.
The town also boasts a strong independent bar and restaurant scene, with venues such as the Eagle and Child gastropub gaining regional recognition. Residents benefit from access to good schools, open countryside, and a lively high street filled with independent shops and cafes.
"Ramsbottom is a fantastic example of a town that's thriving thanks to thoughtful regeneration and a strong sense of community," said Simon Dekker, senior relationship director at Paragon Bank. "We're proud to support Eccleston Homes in bringing new life to the Holcombe Paper Mill site, creating much-needed homes which blend history with modern living."
"Our role is to empower SME developers to deliver projects that make a real difference locally and this scheme is a testament to what can be achieved with positive collaboration."
"This development is aiming to create a neighbourhood which respects Ramsbottom's heritage while meeting the needs of today's modern professionals and families – and that meant it was really important to us to retain the iconic chimney stack and provide open spaces," said Kevin Marren, founder and managing director of Eccleston Homes.
"With Paragon's backing, we're delivering quality, sustainable homes that are built for the future. We're excited to see the first residents move in and become part of this new chapter for the town."
The deal was led on behalf of Paragon Bank by Simon Dekker, with support from Izzy Sargeant, portfolio manager.
