Paget Street was originally, along with the immediate surrounding area, part of the Paget Estate. It sits just north-west of the town centre and along with the surrounding streets forms north-east/south-west aligned intersecting grid pattern.
Paget Street was built semi-piecemeal, although to a basic standard design, over a period of seven or more years beginning around 1883/4, when permission was granted for a number of new streets to be built on the Paget Estate.
Similar to other streets in the vicinity, it appears that the houses were built by builders or speculators in small blocks rather than like today where a single builder would be responsible for the whole estate. For example in April 1885, Thomas Barker, a builder of Swan Street, Loughborough, received permission to build seven cottages. As a result, whilst essentially built to a basic plan, being a mixture of 2- and 3-bedroomed terraced brick properties mainly opening directly on to the pavement, there are subtle variations along the road. Albany Terrace, built in 1884, close to Derby Road, appears as a superior set of seven properties with decorative terracotta panels and separated from the pavement by a low brick wall and a very small garden.
By 1887, the population on the estate was about one thousand, with 212 of the 224 houses being occupied.
Thomas owned 6 unidentified houses on Paget Street and he may well have had them built or bought them when new.