£4m Development Loan for Salston Manor Residential Scheme
We secured a £4m loan via Paragon Bank for the development of Grade II listed Salston Manor. 11 luxury apartments plus 13 new townhouses, blending heritage refurbishment with new-build.
- Loan amount: £4,000,000
- Property type: Grade II listed manor refurbishment + 13 new townhouses
- Units: 11 apartments + 13 townhouses
- Lender: Paragon Bank
- Location: South West England
- Site size: ~4 acres
The Project
FundingWise arranged a £4,000,000 development loan through Paragon Bank for the refurbishment of a Grade II listed manor house and the construction of 13 new townhouses within its surrounding grounds.
The scheme transformed Salston Manor (a historically significant property dating back to the 18th century and extended in Elizabethan style in 1845) into 11 luxury 2- and 3-bedroom apartments, while discreetly developing 13 additional homes on approximately four acres of private grounds and woodland.
The project combined heritage refurbishment and new-build development, delivering modern, high-spec homes while preserving the historic character of the estate.
The Challenge
The project’s complexity was multifaceted:
- Part listed building refurbishment, requiring specialist lender understanding
- Part new-build development, needing phased funding and construction oversight
- Covid-19-related disruptions and planning department challenges
- Continuous liaison required with lenders to ensure confidence in both planning and construction
Funding Wise needed to translate a highly complex project into a credible, manageable funding package, ensuring the client could access the capital required without delay.
The Funding
FundingWise structured a flexible development loan that accommodated both refurbishment and new-build elements.
Key Funding Highlights:
- Loan amount: £4,000,000 via Paragon Bank
- Flexible structuring to account for heritage refurbishment and phased new-build development
- Ongoing lender engagement, providing updates on planning and construction progress
The Solution
The team prepared detailed project materials covering:
- Construction methodology for listed and new-build units
- Planning approvals and requirements
- Financial projections and phasing timelines
By presenting the scheme comprehensively, FundingWise secured lender confidence quickly despite the project’s unusual complexity.
The Result
The development is nearing completion, delivering a project that preserves historic character while adding significant modern value.
Key Outcomes:
- Successful financing of a complex, hybrid scheme
- Heritage and new-build development delivered harmoniously
- Strong ongoing relationship with client and lender for future projects
This case highlights FundingWise’s ability to deliver bespoke finance for complex, heritage-sensitive developments, combining technical expertise, lender management, and strategic insight to bring ambitious projects to life.
11
luxury apartments within the refurbished manor house
13
new townhouses discreetly integrated into the grounds
£4m
total funding secured
4 acres
total site size
