Blackfinch has provided a £2.3m facility to a development in Worcestershire

Blackfinch completes £2.3m facility for sustainable homes

Blackfinch Property has provided a £2.3m facility to a SPV for Dunedin Homes for the land acquisition and the construction of seven sustainable homes in Droitwich Spa, Worcestershire.

The detached two- to four-bedroom houses will be fitted with vehicle charging points, solar panels and a bio-disc treatment plant — as well as ecologically biodiverse boundaries between each property, with the aim of achieving EPC B ratings.

The 22-month deal will be exited via the sale of the £4.6m GDV homes.

John Hartigan, investment director at Blackfinch Property, said: “This is another excellent development by an experienced developer, who has worked with us on their projects for several years now.

“Our in-house legal team worked with our external lawyers and the borrower’s solicitors, to clarify a complex planning query quickly.

“For the purposes of the deal, the developer had exchanged contracts to purchase the property — so all parties and their legal advisers worked closely to ensure a smooth and on-time completion.”


Leave a comment