Developer Hall & Co Property has secured a £6.4 million funding facility from Paragon Bank and a £1.4 million equity investment from the Housing Growth Partnership (HGP) to support a new development in Conwy.
The Y Bluen Goch scheme will consist of 24 houses, three of which will be affordable and available to local residents at a reduced price. There will be a mixture of two, three, and four-bedroom detached and semi-detached houses, as well as an existing house converted into four houses. The scheme is due to be completed in October 2025.
Hall & Co Property is a family-run business based in Cheshire, founded by Andrew Hall. Andrew works alongside his son Jamie Hall, who is Development Director, and his daughter Charlotte Wood, who is the Finance and Legal Director. The company works on a range of housing schemes in Wales and the Northwest of England.
Andrew Hall said:
“We are extremely excited to bring this development forward after a challenging planning process and our partners HGP and Paragon Bank have been pivotal in making that possible.
“Y Bluen Goch will be one of the most prestigious developments Hall & Co have delivered to date and are already seeing a lot of enquiries from local buyers since work began on site.”
HGP is a social impact equity investment fund backed by Lloyds Banking Group and Homes England with an objective to support housebuilders and developers deliver new homes.
HGP Director John McKeon said:
“We are extremely pleased to have made our first investment alongside the Hall & Co team in this picturesque site in Conwy, North Wales.
“This represents one of our first investments in North Wales and we look forward to working with Andrew, Jamie, Charlotte and the rest of the team on this development and hopefully future schemes as they take the business forward.”
The deal was led on behalf of Paragon’s Development Finance team by Senior Relationship Director Nigel Jackson, with support from Senior Portfolio Manager Shannon Altimas.
Nigel added:
“It’s been brilliant to work with this family-run business who pride themselves on the quality of the developments and we hope to work with them again in the near future.”
