The project will introduce 52 energy-efficient homes and two commercial buildings for local businesses, contributing to the area’s housing needs and economic growth. Paragon Bank is supporting the development with a £19 million revolving credit facility.
The scheme represents the next chapter for the Kent and Sussex-based housebuilder, which is expanding its presence across the South East.
Homes will range from one-bedroom apartments – ideal for first-time buyers – through to generous four-bedroom family houses, in a mix of terraces, semi-detached and detached properties. Designed with flexibility and energy performance in mind, the homes are targeting EPC ratings of B and above.
Situated at the front of the site, the additional two commercial buildings housing seven units are intended to attract local businesses, aiming to foster a vibrant, mixed-use community. The units will have classification E usage - covering shops, offices, gyms, restaurants, workshops and other types of commercial buildings - which will complement the new housing development.
Paragon Bank has a strong track record of supporting quality development projects across Surrey and the wider region. This latest announcement follows recent deals including a £12.8 million funding package for WeBuild Developments’ conversion of an office building into 72 apartments in Chertsey, Surrey, and a £30 million facility for the Arundel Gate development in West Sussex, delivering 90 all-electric homes.
The deal was structured and delivered by Paragon Bank’s Development Finance team, led by Toby Burgess and Senior Portfolio Manager Joshua Mann.
Toby Burgess, Relationship Director at Paragon Bank, added: “Akehurst Homes is a developer with a clear sense of purpose and a strong track record of delivery. This development ticks all the right boxes – a strong local need, a thoughtful housing mix and an emphasis on quality and energy performance. We’re pleased to work closely with the team on this second deal, following supporting them on their New Romney development, which is now at practical completion and selling well. We hope to support their growth on more innovative developments in future.”
Akehurst Homes currently has one active development in New Romney, Kent, where homes are progressing through final build stages and into sales. The Lewes project represents the latest in its pipeline of thoughtfully-scaled developments aimed at delivering quality housing across the South East.
James Lench, Director, Akehurst Homes, said: “This is a landmark project for us – not just in terms of size, but in the opportunity it presents to create a well-balanced and energy-conscious community. Lewes is a brilliant location with significant appeal for buyers, and we’re excited to bring forward homes that will truly cater effectively to a wide variety of people and lifestyles. The support from Paragon has been instrumental – the bank understands our vision and back our ambition to grow in a considered, sustainable way.”