A long-derelict industrial site in Ramsbottom is being brought back into use as a major new residential development, supported by £9.25m of funding from Paragon Bank.
Paragon Bank’s development finance division is providing a £9.25m facility to SME housebuilder Eccleston Homes to deliver 57 private homes at Willow Bank, on the site of the former Holcombe Paper Mill in Greater Manchester.
The deal marks the second time Paragon has backed Eccleston Homes, following its support for the Brook House Place scheme in Urmston, which is currently under construction. The lender said the repeat transaction reflects its ongoing focus on supporting SME developers across the North West and the wider UK.
Willow Bank occupies brownfield land between the East Lancashire Railway, Ramsbottom station and Ramsbottom Cricket Club. The paper mill closed in 2008 and was largely demolished four years later, leaving the site vacant for more than a decade.
The scheme is the largest single housing development in the town for almost 200 years and will convert previously developed land into a new residential neighbourhood. Eccleston Homes has retained the historic Holcombe Mill chimney stack as part of the development, alongside areas of open and green space intended for public use.
Construction began last year following extensive remediation works and is now well progressed. Homes were released to the market in September, with seven plots already reserved.
The development will include a mix of mews, semi-detached and detached properties, ranging from two to four bedrooms. Most homes will be two storeys, with one house type rising to 2.5 storeys. Smaller units will have private parking, while four-bedroom detached homes will include either integral or detached garages. All properties will be fitted with EV charging points.
Ramsbottom has established itself as a popular residential location within Greater Manchester, combining a village-style centre with access to open countryside and relatively quick links into Manchester. The M66 is around two miles away, and the town has developed a strong independent retail, café and restaurant scene.
Local agents report that demand for new, high-quality homes continues to exceed supply, particularly for schemes offering a balance of character, green space and transport connectivity.
The transaction was led by Simon Dekker, senior relationship director at Paragon Bank, supported by Izzy Sargeant, portfolio manager.
Dekker said: “Ramsbottom is a town that has benefited from careful regeneration and a strong sense of place. We are pleased to support Eccleston Homes in redeveloping the former Holcombe Paper Mill site and delivering much-needed new housing that reflects the area’s character.
“Supporting SME developers remains central to our approach, particularly where schemes can make a tangible difference to local communities.”
Eccleston Homes is an award-winning regional housebuilder specialising in design-led and energy-efficient homes across the North West.
Kevin Marren, founder and managing director of Eccleston Homes, said: “Our aim has been to create a neighbourhood that respects Ramsbottom’s heritage while meeting the needs of modern families and professionals. Retaining the chimney stack and providing meaningful open space were key to that approach.
“With Paragon’s support, we are delivering homes designed for long-term living, and we look forward to welcoming the first residents to the site.”
