£5 million funding deal agreed to build new homes in Eastrea near Peterborough
Homes to be completed by end of 2025
A housing developer has just secured a multi-million pound deal to build a raft of new homes near Peterborough.
The family-run Aspect Home has agreed a funding deal with Paragon Bank’s Development Finance division for £5.2 million pounds for the development.
Aspect Homes will use the cash to build 17 homes in the village of Eastrea, near Peterborough.
Construction work is already under way and the first homes are expected to be completed by the end of the year.
A spokesperson for Aspect Homes, based in Northamptonshire, said: “The new development will feature a mix of two, three and four-bedroom bungalows and houses. “The scheme has been designed to cater to a diverse range of homeowners, including first-time buyers, families and downsizers seeking homes in a tranquil and well-connected village location.
”The development will contribute to the growing demand for residential properties in Cambridgeshire, offering modern, energy-efficient homes in a rural setting, with convenient transport links to Peterborough and beyond."
James Helmore, Paragon Development’s finance relationship director, said: “We are delighted to partner with Aspect Homes again on this development in Eastrea.”
Andy Milne, director of Aspect Homes, said: “We are thrilled to receive Paragon’s backing for this project.
"This funding will help us deliver a range of high-specification homes that we hope will enhance the area.”